The HVUT, or Heavy Vehicle Use Tax, is a once a year tax paid by truck drivers or owners of trucking companies. It ties in with drivers operating automobiles on our nation’s highway, and ranks money goes towards maintaining roads, alleviating congestion, keeping the roads safe, and funding new contracts.
The more you earn, the higher is the tax rate on what you earn. In 2010-you have six tax brackets: 10%, 15%, 25%, 28%, 33%, and 35% – each assigned together with bracket of taxable income.
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The Tax Reform Act of 1986 reduced the top rate to 28%, transfer pricing in the same time raising the underside rate from 11% to 15% (in fact 15% and 28% became discharge two tax brackets).
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