News Blog

Multi-State Taxation for Interstate Carriers

Posted 12:00 PM by
Due to shrinking budgets and deficit spending, state departments of revenue are actively searching for interstate carriers that should be filing income tax returns in their state. Some states, such as New Jersey, are impounding tractors during routine traffic stops if the officer cannot verify that the company is current on their income tax filings. Other states are reviewing fuel tax filings and cross referencing them to income tax rolls. Once a company has been flagged as a non-filer, many states will request returns be prepared for the last three to six years and the tax be paid with the potential for large interest and penalty assessments. Read more
To read the full text of the Truck Times newsletter, go here.