Vermont IFTA Information
Vermont, or more commonly known as “The Green Mountain State” is located in the New England region of the United States and is currently home to roughly 600,000 people. In order to receive an IFTA license in Vermont you must submit an application to the Vermont Department of Motor Vehicles. You will receive your IFTA Fuel Tax Return 30 days prior to the respected due date. There are no fees for an application or decals.
State Requirements IFTA Vermont Licensing
If you are a trucker, it is important to know what the International Fuel Tax Agreement (IFTA) is and what it means to you as a carrier. IFTA was created to improve the collection and administration of fuel use taxes. There are 48 participating U.S. member jurisdictions, as well as 10 Canadian provinces as part of the IFTA agreement. This guarantees more efficient reporting methods and payment of quarterly taxes for carriers.
Your vehicle qualifies for IFTA Vermont licensing if your business maintains operational controls and records here and can be made available in the state. Also, if your vehicle accrues mileage in Vermont and at least one other member jurisdiction, you will need a Vermont IFTA license.
Your vehicle qualifies if it meets the following requirements:
- Is designed, used, and maintained for transporting persons or property;
- Has 2 or more axles with a GVW of more than 26,000 pounds; has 3 or more axles regardless of weight, or;
- Has a combination GVW over 26,000 pounds.
If your vehicle(s) qualifies, you must obtain an IFTA license and decals, which allows you to travel between member jurisdictions. Once your application is approved, one license and two IFTA decals for each vehicle. A copy of the license must be carried in the cab of each vehicle, and one IFTA decal must be affixed to the exterior of each side of the cab.
As an IFTA licensee, your quarterly fuel use taxes are due as follows:
Quarterly IFTA Due Dates
|Q1 January – March||April 30|
|Q2 April – June||July 31|
|Q3 July – September||October 31|
|Q4 October – December||January 31|
Renewing Your Vermont IFTA License
Failing to file by the due date may result in a fine of 10% of total taxes due, or $50, whichever is great. Late filing or payment will interfere with the IFTA sticker renewal. Your Vermont IFTA will expire each year on December 31st. To avoid any delays or penalties, you should submit your IFTA renewal application before November 30th. However, Vermont offers an IFTA sticker grace period, which extends into February of the following year to receive your renewal. During that time, your license and decals must be displayed. Remember that the grace period only applies if you have submitted your renewal on time. You must be compliant with all IFTA fuel use taxes for renewal.
IFTA Vermont allows you to file for your renewal license electronically, as well as pay your taxes online. You can also use our IFTA Web File to prepare your tax documents and generate filings.
How TruckingOffice Can Help
If meeting IFTA deadlines and filing paperwork sounds stressful, TruckingOffice can help. Our software is designed to help you organize your business and meet all IFTA requirements. TruckingOffice makes filing easy by keeping all of your information in one place. We help you file quarterly reports, keep track of invoices, vehicle maintenance reports and more. Your miles are calculated automatically using PC*Miler. Contact TruckingOffice today to find out more about how we can save you time and money and get you out on the road doing what you do best! Start filing your IFTA the easy way today!