Shumaker Manufacturing

A Legal & Industry Review

“IRS Compliance Focus: The Excise Tax on Heavy Trucks”

There is no steering around the Federal Excise Tax (“FET”) on heavy trucks and trailers, and some companies are finding that out in the most unpleasant way possible – through an IRS audit. Similar to states’ sales taxes, the federal government imposes a 12% tax on the sale of trucks with a gross vehicle weight (“GVW”) above 33,000 pounds, trailers above 26,000 pounds, and tractors above 19,500 pounds.

Follow the link to read more of our Insights article, “IRS Compliance Focus: The Excise Tax on Heavy Trucks”, authored by John Dombrowski, associate at Shumaker, Loop & Kendrick, LLP.

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