What is the use of the Truck Federal Excise Tax?
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Last modified 5/11/2022 11:15:10 AM EST |
Added by ExpressTruckTax Team
Federal Excise Taxes are taxes paid on a specific good, like fuel or new trucks. The IRS collects the Truck Federal Excise Tax as HVUT annually from the heavy vehicle owners/drivers who operate their vehicles on public highways. This tax is collected for construction and repairs of any kind on the highway and maintenance purposes.
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