2022 3rd Quarter IFTA Tax Rate Changes You Should Know
The International Fuel Tax Agreement (IFTA) is an agreement between the 48 contiguous states and 10 Canadian provinces. IFTA must be filed for a vehicle if the vehicle has three or more axles, weighs more than 26,000 pounds, and travels between two or more jurisdictions. IFTA is filed with the driver’s base jurisdiction quarterly and the driver must report the amount of fuel purchased in each jurisdiction. The driver’s base jurisdiction then distributes the tax amount to each state.
Before you can travel between two or more jurisdictions in a qualifying vehicle, you must register your vehicle with your base jurisdiction’s IFTA office and obtain IFTA decals and stickers for the vehicle.
If you are required to file your IFTA, you will find some important information regarding IFTA, IFTA rates, and generating IFTA reports below.
2022 Third Quarter IFTA Tax Rate Changes
Tax rates for IFTA will change often and there are some changes for the third quarter of 2022. The table below will provide a clear overview of the tax rate changes.
The states with increasing fuel tax rates in USD are as follows:
|S. No||State/Province||Fuel Type||2nd Quarter 2022||3rd Quarter 2022|
|11. Virginia (Surcharge)||Gasoline||0.1470||0.1490|
When are 3rd Quarter IFTA 2022 taxes due?
The third quarter IFTA deadline is October 31st, 2022. Any fuel purchased in different jurisdictions during the third quarter must be reported and filed with your base jurisdiction by the deadline.
How to handle IFTA tax rate changes?
Never worry about the ever-changing IFTA tax rates. Get started with TruckLogics’ IFTA-only option. You will love using TruckLogics to generate IFTA reports for the following reasons:
- Multiple data import options are available to enter in your fuel up and mileage data.
- Once you enter your data, TruckLogics does the calculations for you.
- The tax rate calculations are automatic and accurate. This calculation lets you know the tax amount you owe.
- You can download the report in state-specific reporting formats and use it to file with your base jurisdiction as required by the base jurisdiction (either online or by paper filing).
TruckLogics is a complete TMS solution that helps streamline trucking business operations with various time-saving options that include:
- Loads and Dispatch Management
- Dispatch Scheduling and Routing
- Bill of Lading and other Documents
- Invoicing and Accounting (income/expense tracking)
- Driver Management and Settlements
- IFTA Reporting and More
What are you waiting for?
Simply sign up and follow the steps below to generate your IFTA Report:
Step 1: Add your business details
Step 2: Add your truck details
Step 3: Enter your fuel and mileage information
Step 4: Generate the IFTA Report
Step 5: File it with your base jurisdiction