Indiana Department of RevenueFormIVT1State Form 56305 (R7 / 623)Fuel Inventory ReportThis return must be postmarked on or before July 31, 2023.Mailing/Contact Information: Indiana Department of Revenue Special.
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How to fill out the Fuel Inventory Report IVT-1 online
The Fuel Inventory Report IVT-1 is essential for reporting fuel gallons held in storage as of June 30, 2023. This guide will walk you through the online process of completing this form efficiently and accurately.
Follow the steps to fill out the Fuel Inventory Report IVT-1 online.
- Click ‘Get Form’ button to access the Fuel Inventory Report IVT-1 and open it in your online editor.
- In Section A, enter your taxpayer information, including your legal business name and contact details such as telephone and email address. Make sure to include any applicable DBA name.
- For tax computation in Section B, begin by entering the total number of gallons in inventory for gasoline and special fuel as of June 30, 2023. Remember to exclude any special fuel that cannot be pumped out.
- Indicate the amount of the tax rate increase in the designated line. Multiply the total gallons from Step 3 by the tax rate increase to calculate the inventory tax due.
- Add the amounts calculated in Step 4 for both fuel types to find the total tax due. If applicable, calculate any penalties for late filing or interest, and add those to the total.
- In the final section, certify that the information provided is true and complete. Fill in your printed name, signature, and the date.
- Once all fields are completed, review the form for accuracy, and you may proceed to save your changes, download a copy, print, or share the completed form as needed.
Complete your Fuel Inventory Report IVT-1 online today to ensure compliance.
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What is the phone number for Indiana IFTA?
For more information, refer to the resources below, call 317-615-7200, or e-mail IndianaMotorFuel@dor.in.gov.
What is the special fuel tax in Indiana?
From July 1, 2023 to June 30, 2024, the Motor Carrier Fuel Tax (MCFT) rate is $0.57 per gallon of special fuel or alternative fuel, and $0.34 per gallon of gasoline, consumed by a carrier in its operations on highways in Indiana. From July 1, 2023 to June 30, 2024, the Special Fuel tax rate is $0.57 per gallon.
How do I get an IFTA in Indiana?
To apply for an IFTA license in Indiana, you must submit a form IFTA-1A application and pay an application fee of $25. There is a $25 annual renewal fee as well.
What states have fuel surcharge?
Only three States currently collect an additional fee via a surcharge line on the IFTA reporting form. They are Virginia, Indiana and Kentucky. These rates currently vary from 3.5 to 11 cents per gallon.
What is Indiana proportional use credit?
The claim for credit must be completed only by companies, sole proprietorships, partnerships, or other legal entities that have been previously certified by the department and that are seeking a refund of taxes paid on motor fuel consumed in a motor vehicle which has a common fuel reservoir used to propel the motor ...
How to apply for IFTA in Indiana?
You must first complete the application form, IFTA-1A. Send the completed form, along with the application fee of $25 to the Indiana Department of Revenue. Once your application is processed, you will receive one (1) set of decals for each qualified vehicle and one (1) IFTA license cab card for your company.
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