Form 2290 Taxes: What New Trucking Businesses Should Know?

The Federal Form 2290 taxes are semi-annual taxes that all businesses must remit to the IRS. Truth is, it has been in place over years and applies to heavy vehicles weighing 55,000 pounds or more & used for business purposes. Even if the business does not have a fleet of vehicles. This can be a bit confusing for new businesses that are just getting off the ground. But, rest assured you will be responsible for paying this tax if your organization operates a business using taxable vehicles weighing 55,000 pounds or more.

Now that you know about the Federal Highway Use Tax Form, let’s get started on what new businesses should know about Federal Form 2290 taxes.

What New Trucking Businesses should Know Form 2290 Taxes?

Decide the Business Structure

So, before starting a new business, determine what form of business entity you want to establish. Because the form of your business helps in determining which tax return you should file. Here are some common forms of business:

  • LLC’s
  • Sole property owners
  • Partnership
  • C corporation and 
  • S Corporation

After selecting the business structure, check whether you have an EIN, if not get an EIN here. An Employer Identification Number (EIN) is an identification number that the Internal Revenue Service assigns to business entities. The EIN is used by entities when reporting income, filing taxes, and other financial transactions

This number is required for any person who wants to start a business as a sole proprietor or with employees. If you plan to operate a business using heavy trucks, you will need this number to file a form and pay federal taxes.

The IRS website states that “you should apply for an EIN if you are: a sole proprietor; doing business in more than one”.

Form 2290 Taxes

Taxes are an inevitable aspect of running any business, and the taxes for different types of businesses tend to vary. Sole proprietorships, partnerships, and S-corporations will pay taxes on both their income and investments. C-corporations will only have to pay taxes on investment income.

The type of tax a business pays will depend on its legal structure and not on what form it provides to customers or clients.


All businesses must maintain some form of recordkeeping. Recordkeeping is the process of recording business transactions and organizing them in such a way that they can be accessed at a later time. They are typically in written form, though they can also take the form of images or sound recordings.

Some of the more common types of records to keep track of are our financial records, payroll records, sales records, and inventory records. Keeping these types of records is essential to producing accurate financial statements, knowing how much money is owed to the company and who it’s owed to, and being able to produce the appropriate.

These are a few things you need to consider before starting a trucking business. If you’re a small business owner, knowing how to handle Federal Form 2290 taxes is critical. We’ve put together an article that will help you understand this form and what you need to do when it comes time to file it.


Whether you are a small or large business owner, you must familiarize yourself with the 2290 tax form if you want to avoid hefty fines from the IRS. Truck2290 is happy to help you with all of your federal tax filing needs.


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