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Revision as of 04:03, 7 August 2026

The HVUT, or Heavy Vehicle Use Tax, is a yearly tax paid by truck drivers or owners of trucking companies. It applies to drivers operating cars on our nation's highway, and a number of the money goes towards maintaining roads, alleviating congestion, keeping the roads safe, and funding new creations.

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The 'payroll' tax applies at a hard percentage of your working income - no brackets. A good employee, get yourself a 6.2% of your working income for Social Security (only up to $106,800 income) and 12.45% of it for Medicare (no limit). Together they take one 7.65% of one's income. There is no transfer pricing tax threshold (or tax free) amount of income to do this system.

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