Excise tax on heavy trucks, trailers and tractors
Two key excise taxes apply to businesses that rely on heavy trucks, trailers or tractors to move goods or perform services: the retail excise tax and the highway motor vehicle use tax. The rules, including available exemptions, are highly nuanced, and businesses must understand the various definitions in order to properly apply these taxes to vehicle purchases and uses.
In this 13-minute presentation, David Fonda will provide an overview of both taxes and discuss some IRS guidance that may create planning opportunities for your business.
Learn more about how RSM can help your business control excise taxes related to trucking.