Excise Tax Enquirer
Navigating tire tax credits
What are some general guidelines for calculating FET when a tire tax credit is available?
August 26, 2016
Showing 51 - 60 of 145
Excise Tax Enquirer
Taxability by body model
We mount a certain model truck body (one of our top sellers) on a lightweight chassis rated below 33,000 pounds GVW. Therefore, we do not charge Federal Excise Tax (FET or Section 4051 tax) on the sale of the body...
July 5, 2016
Excise Tax Enquirer
Does maximum loaded vehicle weight influence chassis taxability?
Can a truck chassis with a GVW greater than 33,000 pounds be treated as nontaxable under Internal Revenue Code (IRC) 4051 if sold with a body that limits maximum loaded vehicle weight to 33,000 pounds or less?
April 12, 2016
Excise Tax Enquirer
Do sales to Canadian purchasers trigger Federal Excise Tax (FET)?
Our dealership is selling a truck to a Canadian purchaser. Will this sale trigger Section 4051 tax?
February 10, 2016
Excise Tax Enquirer
Are accessory sales subject to Federal Excise Tax?
If we do not install an accessory, but sell it with a chassis or body, is the accessory subject to Section 4051 tax?
December 8, 2015
Excise Tax Enquirer
Primary tax exclusions for chassis sales to end users
Is Section 4051 tax due on all chassis sales to end user customers? Are there some common exclusions?
September 15, 2015
Excise Tax Enquirer
Determining letter ruling applicability
We are a dealership that sells a certain body type. A customer gave me a copy of another dealership’s letter ruling in which the Internal Revenue Service determined the bodies sold by the other dealership were not...
June 12, 2015
Excise Tax Enquirer
Tax liability considerations when refurbishing chassis
We are overhauling a customer-owned chassis. The original chassis had a GVWR of less than 33,000 pounds, making it non-taxable. Most of the chassis will be rebuilt with new materials, but a few original components will...
April 12, 2015
Excise Tax Enquirer
Truck bodies and truck chassis - Separate tax determinations
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...
February 10, 2015
Excise Tax Enquirer
Is FET due on the resale of a tax-paid trailer within the first six months?
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 FET...
December 10, 2014