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Revision as of 12:44, 22 September 2024

The HVUT, or Heavy Vehicle Use Tax, is a once a year tax paid by truck drivers or owners of trucking companies. It goes for drivers operating automobiles on our nation's highway, and anyone money goes towards maintaining roads, alleviating congestion, keeping the roads safe, and funding new projects.

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Contributing an insurance deductible $1,000 will lower the taxable income of the $30,000 yearly person from $20,650 to $19,650 and save taxes of $150 (=15% of $1000). For your $100,000 each year person, his taxable income decreases from $90,650 to $89,650 and saves him $280 (=28% of $1000) - almost double the amount!

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