Even though the manufacturer passes it on to the dealer, who passes it on to the fleet, the IRS won't be knocking on any of your doors. The good news for fleets is that the tire manufacturer is ultimately responsible for paying the FET.
As a result, it's quite possible that there are thousands of dollars in back taxes that may be owed. Of course, Congress and the IRS intended to give the break only to those using the new ultra-low-profile wide-base tires to exclusively replace dual tires. The definition for these tires is extremely vague and some tire companies determined that standard all-position wide-base tires qualified for the discounted rate. So if a sales rep tells you he can save you money on FET with “specially labeled” tires, they're probably headed for an audit.īut the biggest FET landmine is waiting for fleets that operate wide-base tires. Some manufacturers have attempted to create a “discounted” FET by marking the tire for dual use only, thereby lowering the tax.īut every bias tire (except wide-base) must be labeled with both the single and dual load carrying capacities, and the values cannot be less than those published by various industry associations. However, on the bias/wide-base side, there are a couple of issues that have created confusion and potential problems for fleets that operate these tires.įor those who still use bias ply tires, particularly those in the intermodal market, the tax is based on the maximum single load carrying capacity for the tire. The standard radial truck tire formula is quite clear: The more weight the tire carries, the higher the tax. Bias tires and those classified as wide-base are taxed at a lower rate of 4.725¢ for every 10 lb. So a tire with a maximum single capacity of 6175 lb. Since then, standard radial truck tires have been taxed at a rate of 9.45¢ for every 10 lb. The main source of income for The Fetal Medicine Foundation is The Fetal Medicine Centre.When the American Jobs Creation Act went into effect on January 1, 2005, the calculation for the Federal Excise Tax (FET) on truck tires changed from a physical weight-based assessment to a flat rate based on the load carrying capacity of the tire.
Further information is available in the Trust’s Annual Accounts. In 2016/2017, the Fetal Medicine Foundation made a donation of £22 million to King’s College Hospitals NHS Foundation Trust for investment in the Trust's Fetal Medicine services. Prediction and management of fetal growth restriction.
FET CALCULATOR SERIES
The Foundation, with the support of an international group of experts, has introduced an educational programme both for healthcare professionals and parents and a series of certificates of competence in different aspects of fetal medicine. The Fetal Medicine Foundation is a Registered Charity that aims to improve the health of pregnant women and their babies through research and training in fetal medicine.
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