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IFTA IQ Test – ANSWERS

IFTA IQ Test – ANSWERS. True or False. #1. Jurisdictions are required to finalize their tax rates and determine tax exemptions. True: Procedures Manual, P1120.100 and P1130. #2. An annual IFTA tax return is for one calendar year. True: Articles of Agreement, R930.200. #3.

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IFTA IQ Test – ANSWERS

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  1. IFTA IQ Test – ANSWERS

  2. True or False

  3. #1 • Jurisdictions are required to finalize their tax rates and determine tax exemptions. • True: Procedures Manual, P1120.100 and P1130

  4. #2 • An annual IFTA tax return is for one calendar year. • True: Articles of Agreement, R930.200

  5. #3 • A recreational vehicle is not a qualified motor vehicle but a bus transporting children to a church recreation camp is a qualified motor vehicle. • TRUE: R248

  6. #4 • Temporary IFTA permits can be issued for 60 days • False: Articles of Agreement, R263 and R650

  7. #5 • When a carrier fails to pay your jurisdiction, you can require them to post a bond. • True: Articles of Agreement, R340 and Procedures Manual, P400

  8. #6 • To stream line the renewal process your jurisdiction can automatically renew active licenses. • True: Articles of Agreement, R345.200

  9. #7 • Jurisdictions are required to send an initial billing and a second billing for IFTA tax returns that do not have complete payments. • False.

  10. #8 • Jurisdictions cannot write off credit or debit amounts. • False: Articles of Agreement, R1120

  11. #9 • Jurisdictions must have an appeal procedure in place for licensees whose license has been revoked • True: Articles of Agreement, R370, R1400

  12. #10 • Trip permits are not allowed in lieu of IFTA licensing. • False: Articles of Agreement, R310

  13. #11 • Jurisdictions must charge a fee for decals and licenses • False: Articles of Agreement, R355 and Procedures Manual, P145 and P320.300

  14. #12 • Licensees must provide a lease when they renew. • False: Articles of Agreement, R540, P520

  15. #13 • Jurisdictions cannot have their state logo on the IFTA decal • False: Procedures Manual, P320.100

  16. #14 • If you can verify that a company has a valid IFTA license then they do not need to have a copy in the vehicle they are operating. • False: Articles of Agreement, R620

  17. #15 • Licensees can transfer decals between vehicles • False: Articles of Agreement, R640

  18. #16 • Licensees must renew their IFTA license and decals by December 31st of each year because there is no grace period. • True: Articles of Agreement, R610 (Grace period is for display see R655)

  19. #17 • Licensees are exempt from reporting fuel information for cement trucks because they manufacture a product while on the road. • True/False: R830.100

  20. #18 • Licensees can request a refund when credit exists from their IFTA tax return. However, jurisdictions can issue the refund whenever they want. • Part 1: True: Articles of Agreement, R1110. Part 2: False: Articles of Agreement R1150

  21. #19 • IFTA tax returns are considered “Timely” when the return is received along with the complete payment by the return due date. • True: Articles of Agreement, R920,R960 and R970

  22. #20 • Annual IFTA tax reporting is allowed when a licensee operation has less than 5,000 miles or 8,000 kilometers in all jurisdictions. • False: R930.200 “in all member jurisdictions other than the base jurisdiction.

  23. #21 • Each tax return must contain a complete tax rate matrix as part of the form. • False: Articles of Agreement, R940.100, Procedures Manual, P730 and P720.500 and P720.500.010

  24. #22 • The letters “IFTA” on the IFTA decal must be a minimum of ½”. • False: Procedures Manual, P320.100

  25. #23 • The jurisdiction must notify all member jurisdictions within 15 days of all revocations/suspensions or reinstatements. • False: Articles of Agreement, R420

  26. #24 • The jurisdiction must allow a licensee to submit a computer-generated tax return in lieu of the standard tax return. • False: R940.300

  27. #25 • Payments of billing transmittals received from other jurisdictions are made by the last day of the month following the month in which the billing transmittal was received. • True: P1040

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