Filing your quarterly IFTA (International Fuel Tax Agreement) tax in California can seem daunting, but it doesn't have to be. By following a few simple steps, you can ensure that your IFTA tax is filed correctly and on time. Here are the steps to file your quarterly IFTA.
GATHER YOUR INFORMATION
Before you begin the filing process, ensure you have all the necessary information. These include your IFTA license number, the total miles traveled in each state or province, and the amount of fuel purchased in each state or province. You can find this information by reviewing your fuel receipts, logbooks, and other records.
CALCULATE YOUR TAX LIABILITY
Once you have the necessary information, you can calculate your tax liability. You can do this using the IFTA Tax Calculator provided by the California Department of Tax and Fee Administration (CDTFA). This calculator will help you determine how much you owe in taxes for the quarter.
FILE YOUR RETURN
File your IFTA Fuel Tax Return online using the CDTFA's e-file system, or you can mail a paper return. Include any required attachments, such as your fuel receipts and logbooks, when you file your return.
PAY YOUR TAX
Pay any taxes owed online using the CDTFA's e-pay system, or you can mail in a check or money order. Also, keep a copy of your payment receipt for your records.
KEEP GOOD RECORDS
It is crucial to keep good records of your IFTA filings and payments. These will make it easier for you to file your returns in the future and will also be helpful in case of an audit.
Filing quarterly IFTA tax in California is mandatory for commercial vehicles to stay compliant. Global Mult Services are adept at processing IFTA Fuel Tax Returns for motor carriers and on time.