Protect yourself! Check all lease agreements carefully and ensure that the responsibility for IFTA tax reporting is clearly defined. It is important to remember that Michigan`s statute makes the lessor and lessee jointly and severally liable for any fuel tax liability that occurs during the term of their lease agreement. The Traffic Fuel Tax Act makes explicit reference to lease agreements. See MCL 207.218. If you have an IFTA fuel tax licence, you must submit quarterly declarations showing all mileage and fuel purchases that took place under your IFTA reporting information. You must file a return, even if you have not had any activity under your license, but have been operated under a rental agreement where IFTA taxes have been declared and paid on your behalf by the lessor. In this case, you would submit no operations if the owner deposits your mileage and fuel purchases on your behalf. The service may request a copy of your rental agreement if this is necessary for validation. Three-quarters of ineligible trips may lead to the cancellation or non-renewal of your license. If you enter into a lease agreement and the lessor provides you with fuel stickers issued on their behalf and can only use your equipment, you must include your activities and fuel purchases in their fuel tax reports until the lease is terminated. In this scenario, we strongly recommend that vehicle lessors terminate their IFTA fuel tax licence.
This way, you avoid many of the problems associated with delinqued returns and calculated valuations. The department may ask you to provide a copy of the rental agreement, a copy of the lessor`s IFTA license and the sequence number of decalable images made available to you. This is a legal form that has been released by the Colorado Department of Revenue, a government agency that operates in Colorado. To date, the issuing service has not provided separate registration guidelines for the form. Download a fillable version of Form DR7511 by clicking on the link below or browse other documents and templates provided by the Colorado Department of Revenue….