Get In Dor Ivt-1 2024-2025

The IN DoR IVT-1 form is essential for reporting fuel inventory for taxation purposes in Indiana. This guide will walk you through each section of the form to ensure you complete it accurately and promptly.

Follow the steps to fill out the IN DoR IVT-1 form seamlessly.

1. Click the ‘Get Form’ button to access the IVT-1 form and open it in your preferred editor.
2. In Section A, begin filling out the taxpayer information. Provide your legal business name, federal identification number, and DBA name if applicable. Ensure to enter your physical street address along with the city, state, and ZIP code. Include your telephone number and email address as a point of contact.
3. Continue in Section A by filling out your Indiana taxpayer identification number and the 3-digit location number if you are reporting for a single location. If filing a consolidated return for multiple locations, check the box for 'Consolidated Return' and attach a separate listing of all locations and corresponding gallons.
4. Move on to Section B for tax computation. Enter the total number of gallons for each fuel type in storage as of the end of business on June 30, 2024, in Line 1. Distinguish between gasoline and special fuel.
5. In Line 2, document the amount of the tax rate increase. Ensure clarity on the specific tax amounts applicable for your fuel types.
6. Calculate the inventory tax due in Line 3 by multiplying the number of gallons entered in Line 1 by the tax rate increase from Line 2. For Line 4, sum the totals from both fuel columns.
7. If your return is late, assess the penalty in Line 5. This is either 10% of the total tax due from Line 4 or $5, whichever amount is greater. Line 6 will require the calculation of interest, if applicable.
8. Finally, complete Line 7 by adding the amounts from Line 4, Line 5, and Line 6 to find the total amount due. Ensure all totals are accurate to avoid issues.
9. Certify the information by signing, printing your name, and dating the form. Review the completed form for accuracy.
10. Once all sections are completed, use the option to save changes, download, print, or share the form as required.

Complete your IN DoR IVT-1 form online to ensure compliance and avoid penalties.