Document - Excise Tax Enquirer

Tax Liability Considerations When Refurbishing Chassis
Updated: 5/15/2015
Question: We are overhauling a customer-owned chassis. The original chassis had a gross vehicle weight rating (GVWR) of less than 33,000 lbs., making it non-taxable. Most of the chassis will be rebuilt with new materials, but a few original components will be retained. As the renovated chassis will have a GVWR of more than 33,000 lbs., will the used components be subject to Section 4051 tax? full document >
Truck Bodies and Truck Chassis — Separate Tax Determinations
Updated: 3/16/2015
Question: If a customer purchases a new truck body from us and asks us to install it on a used truck chassis, is the body taxable? Similarly, if a customer purchases a new truck chassis from us and asks us to install it on a used truck body, would the chassis be taxable? Does it matter whether the sale and installation of the new article occurs within six months of the purchase of the used article? full document >
Is FET Due on the Resale of a Tax-Paid Trailer Within the First Six Months?
Updated: 1/15/2015
Question: We are a distributor that just bought a taxable trailer from a manufacturer on a tax-paid basis. (We did not provide the manufacturer with a resale certificate, and the manufacturer’s invoice included the amount of Federal Excise Tax under Section 4051 that the manufacturer would pay to the Internal Revenue Service.) We now intend to resell the trailer. A friend has advised us that if we re-sell the trailer within six months, we will have to pay Section 4051 tax on it. Is this true? full document >
FET and the Six-Month Rule on Parts and Accessories
Updated: 11/17/2014
Question: A customer recently purchased a new truck chassis, and the invoice for the truck included Federal Excise Tax (FET). He now wants our company to install an additional part on the truck chassis. (The part would have been taxable if it was included on the truck when the truck was sold.) Since the customer already paid tax on the truck, is there any tax risk for our company under Internal Revenue Code (IRC) Section 4051? full document >
Are Schools Exempt from FET?
Updated: 9/15/2014
Question: Is there a Federal Excise Tax (FET) exemption for sales of taxable trucks to schools? full document >
Are You Prepared for an FET Audit?
Updated: 7/25/2014
Question: We have received notice that the Internal Revenue Service (IRS) will be conducting an examination of our 720 tax returns. Do you have any tips on how we should prepare for the audit? full document >
Applying Federal Excise Tax — A General Overview
Updated: 7/10/2014
Question: Do you have any quick tips companies can use to determine if they are applying Federal Excise Tax (FET) correctly in some common situations? full document >
Nontaxable Cranes: Determination on Boom Length
Updated: 6/16/2014
Posted 10 1 2000 (updated 10 1 2000), DocID 101496 Rose Michele Nardi Attorney Weiner, Brodsky, Sidman & Kider, P.C., NTEA Legal QUESTION We install mast and boom log loading cranes on standard over the road chassis that exceed full document >
Internal Revenue Service Issues New Guidance on Glider Kit Usage
Updated: 5/15/2014
Question: My company completes vehicles using glider kits. I have heard there is new guidance from the Internal Revenue Service (IRS) on the use of glider kits. Can you explain what this may mean for my business?  full document >
Selling a Taxable Chassis and Crane: On What Do You Have to Charge Tax?
Updated: 3/17/2014
Question: We recently purchased a taxable truck chassis for resale (using a sale for resale certificate), and before we sell the chassis, we want to install on it a boom crane. Will we need to pay Section 4051 tax on the crane as well as the chassis? full document >



Search by DocID