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3rd quarter - ifta tax rate changes

It's incredible to think that we're already halfway through the third quarter of 2023. There are many moving pieces when your transportation company is operating at full capacity.<br><br>It's incredible to think that we're already halfway through the third quarter of 2023. There are many moving pieces when your transportation company is operating at full capacity.<br><br>You'll need to comply with IFTA reporting with your jurisdictions as one of the requirements. Another strategy to remain on top of things and reduce stress when the next reporting deadline approaches is to become an expert at IFTA report<br>

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3rd quarter - ifta tax rate changes

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  1. 3rd Quarter IFTA Tax Rate Changes for 2023! It’s hard to believe that the third quarter of 2023 is already about halfway through, but here we are! With your trucking business in full swing, there are a lot of moving parts…literally! One of the requirements you’ll need to keep up with is IFTA reporting with your jurisdictions. Mastering your IFTA reporting is another way to stay ahead of the curve and avoid any additional stress when the next reporting deadline rolls around. Overview of IFTA: To simplify the process of fuel tax reporting for motor carriers that operate in multiple jurisdictions, IFTA tax rate came into existence. The International Fuel Tax Agreement (IFTA) is an agreement made between the 48 contiguous US states and 10 Canadian provinces. With IFTA, qualified motor vehicle owners can report the fuel and distance data of their vehicles to their base jurisdiction every quarter. Based on that, the base jurisdiction will collect and distribute the taxes to other jurisdictions automatically.

  2. IFTA tax rates are updated for every quarter, and the upcoming 3rd Quarter IFTA tax rate changes were recently announced. Here are the updates on the changes for IFTA tax rates for the motor carriers (in USD, CAD where applicable). State/Province Fuel Type 2nd Quarter 2023 3rd Quarter 2023 California (CA) Special Diesel 0.8530 0.8930 A55 0.8530 0.8930 Biodiesel 0.8530 0.8930 Colorado (CO) Gasoline 0.2400 0.2500 Special Diesel 0.2450 0.2650 Gasohol 0.2400 0.2500 Ethanol 0.2400 0.2500 Methanol 0.2400 0.2500 E-85 0.2400 0.2500 M-85 0.2400 0.2500 A55 0.2400 0.2500

  3. Biodiesel 0.2450 0.2650 Illinois (IL) Gasoline 0.6540 0.6850 Special Diesel 0.7570 0.7880 Gasohol 0.6540 0.6850 Propane 0.6830 0.7140 LNG 0.6460 0.6770 CNG 0.5420 0.5730 Ethanol 0.6540 0.6850 Methanol 0.6540 0.6850 E-85 0.6540 0.6850 M-85 0.6540 0.6850 A55 0.6540 0.6850 Biodiesel 0.7570 0.7880

  4. Iowa (IA) Ethanol 0.2400 0.2450 E-85 0.2400 0.2450 Biodiesel 0.3010 0.2980 Electricity – 0.0260 Kentucky (KY) Gasoline 0.2460 0.2870 Special Diesel 0.2160 0.2570 Gasohol 0.2460 0.2870 Propane 0.2460 0.2870 LNG 0.2160 0.2570 CNG 0.2160 0.2570 Ethanol 0.2460 0.2870 Methanol 0.2460 0.2870 E-85 0.2460 0.2870

  5. M-85 0.2460 0.2870 A55 0.2160 0.2570 Biodiesel 0.2160 0.2570 Maryland (MD) Gasoline 0.4270 0.4700 Special Diesel 0.4345 0.4775 Gasohol 0.4270 0.4700 Propane 0.4270 0.4700 LNG 0.4270 0.4700 CNG 0.4270 0.4700 Ethanol 0.4270 0.4700 Methanol 0.4270 0.4700 E-85 0.4270 0.4700 Biodiesel 0.4345 0.4775

  6. Massachusets (MA) Propane 0.2990 0.2690 LNG 0.2990 0.2690 CNG 0.2990 0.2690 Michigan (MI) Gasoline 0.4670 0.4750 Special Diesel 0.4860 0.5020 Gasohol 0.4670 0.4750 Propane 0.4860 0.5020 LNG 0.4860 0.5020 CNG 0.4670 0.4750 Ethanol 0.4670 0.4750 Methanol 0.4670 0.4750 E-85 0.4670 0.4750 M-85 0.4670 0.4750

  7. A55 0.4860 0.5020 Biodiesel 0.4860 0.5020 Missouri (MO) Gasoline 0.2200 0.2450 Special Diesel 0.2200 0.2450 Gasohol 0.2200 0.2450 Ethanol 0.2200 0.2450 E-85 0.2200 0.2450 M-85 0.2200 0.2450 Biodiesel 0.2200 0.2450 Ohio (OH) CNG 0.4000 0.4700 Rhode Island (RI) Gasoline 0.3400 0.3700 Special Diesel 0.3400 0.3700 Gasohol 0.3400 0.3700

  8. Propane 0.3400 0.3700 LNG 0.3400 0.3700 Ethanol 0.3400 0.3700 Methanol 0.3400 0.3700 E-85 0.3400 0.3700 M-85 0.3400 0.3700 A55 0.3400 0.3700 Biodiesel 0.3400 0.3700 South Dakota (SD) Gasoline – 0.2800 Propane – 0.2000 LNG – 0.1400 CNG – 0.1400 Ethanol – 0.1400

  9. Methanol – 0.1400 Utah (UT) Gasoline 0.3640 0.3450 Special Diesel 0.3640 0.3450 Gasohol 0.3640 0.3450 Ethanol 0.3640 0.3450 Methanol 0.3640 0.3450 E-85 0.3640 0.3450 M-85 0.3640 0.3450 A55 0.3640 0.3450 Biodiesel 0.3640 0.3450 Virginia (VA) Gasoline 0.2800 0.2980 Special Diesel 0.2890 0.3080 Gasohol 0.2800 0.2980

  10. Propane 0.2800 0.2980 LNG 0.3160 0.3360 CNG 0.2800 0.2980 Ethanol 0.2800 0.2980 Methanol 0.2800 0.2980 E-85 0.2800 0.2980 M-85 0.2800 0.2980 A55 0.2800 0.2980 Biodiesel 0.2890 0.3080 New Brunswick (NB) Gasoline 0.2192 0.1087 Special Diesel 0.2886 0.1545 Gasohol 0.2192 0.1087 Propane 0.1444 0.0670

  11. LNG 0.2524 0.1545 CNG 0.2524 0.1545 Methanol 0.1636 0.1087 E-85 0.2192 0.1087 M-85 0.1636 0.1087 A55 0.2886 0.1545 Biodiesel 0.2886 0.1545 Prince Edward Island (PE) Gasoline 0.1952 0.0847 Special Diesel 0.2756 0.1415 Gasohol 0.1952 0.0847 LNG 0.2513 0.1527 CNG 0.1826 0.0847 Ethanol 0.1952 0.0847

  12. Methanol 0.1396 0.0847 E-85 0.1952 0.0847 M-85 0.1479 0.0847 A55 0.1477 0.0847 It’s important to note that these changes only apply to the 3rd quarter of 2023. The IFTA tax rates are subject to change every quarter based on the average retail price of fuel in each state. You will pay more taxes on fuel if you operate in states or jurisdictions where the tax rate increases and vice-versa. Choosing the right product for IFTA reporting: Fleet Managers and truckers don’t need to be concerned with the IFTA tax rate changes because in TruckLogics , the rates are updated automatically. Simply enter your mileage and fuel data, and they handle everything else for you. Make sure to file your Q3 IFTA before October 31st, 2023!

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