IFTA

IFTA stands for the International Fuel Tax Agreement. It's an agreement between all lower 48 states in the US and all Canadian provinces (except for a few) to simplify how fuel taxes are reported and paid for commercial vehicles that operate in multiple jurisdictions [US state or Canadian province].

Previously, it was a hassle for truckers who crossed state lines frequently, as they had to deal with multiple permits and tax filings. IFTA helps streamline this process by allowing them to:

• Register and get a fuel tax permit in just one base jurisdiction (their home state/province)

• File a single quarterly report that details fuel usage and mileage driven in each member jurisdiction

• Pay any taxes owed or receive credits based on the report

Transcom  saves you time and money for trucking companies by reducing paperwork and simplifying fuel tax accounting. 

Simplified tax filing: Transcom allows you to file a single quarterly report instead of filing reports with each state or province you operate in. This saves you a significant amount of time and hassle.

Reduced paperwork: With IFTA, you only need to register for a permit in your home state/province. This eliminates the need to obtain permits in every jurisdiction you operate in.

Accurate tax calculation: Transcom ensures that you pay the correct amount of fuel tax in each jurisdiction you operate in. This is because your report details fuel usage and mileage driven in each member jurisdiction.

Potential tax credits: Based on your IFTA report, you may be eligible for tax credits from certain jurisdictions. This can help reduce your overall fuel tax liability.