CT AU-724 2022-2024 free printable template

The purpose of the Connecticut fuel tax is to generate revenue for the state government. It is a tax imposed on the sale or use of fuel within the state of Connecticut. The revenue generated from this tax is used to fund various transportation-related expenses, such as the construction and maintenance of roads, highways, bridges, and other transportation infrastructure projects. The fuel tax helps fund transportation initiatives, improve connectivity, and ensure the availability of safe and efficient transportation systems throughout the state.

As of April 2021, the fuel tax in Connecticut is $0.431 per gallon for gasoline and $0.501 per gallon for diesel fuel. These rates are subject to change, so it is advisable to check with official sources for the most up-to-date information.

In Connecticut, people or businesses that operate motor vehicles and use taxable fuels are required to file and pay the Connecticut fuel tax. This includes gasoline and diesel fuels used in highway vehicles, as well as fuels used in off-highway vehicles such as boats and construction equipment.

To fill out the Connecticut fuel tax form, follow these steps: 1. Obtain the necessary form: The Connecticut Department of Revenue Services (DRS) provides the "State of Connecticut Petroleum Products Gross Earnings Tax Return" form (Form OP-152). You can download it from the DRS website or request a copy by calling their office. 2. Provide general information: Fill in the introductory section of the form, including your name, address, phone number, and the period for which you are filing the return. 3. Calculate gross earnings: Figure out your total gross earnings from sales of petroleum products subject to Connecticut fuel tax during the filing period. This includes gasoline, diesel, and other taxable fuels. Provide this value in the appropriate box on the form. 4. Calculate exemptions and deductions: Determine any allowable exemptions and deductions from your gross earnings. For example, certain sales may qualify for a lower tax rate or be exempt altogether. Subtract these exemptions and deductions from your gross earnings. 5. Calculate net earnings: Subtract the amount of exemptions and deductions from the gross earnings to calculate your net earnings. 6. Calculate the tax due: Apply the appropriate fuel tax rate (which may vary depending on the type of fuel and the filing period) to your net earnings to calculate the tax due. 7. Complete payment information: Provide the necessary information for making the tax payment. This may include your payment method (check, ACH debit, etc.) and any required payment vouchers. 8. Sign and submit: Sign the form to certify its accuracy. Make a copy for your records and submit the original form along with the applicable payment to the address provided on the form. Note: It is advisable to consult the instructions provided along with Form OP-152 or seek professional tax advice to ensure compliance with any specific requirements or changes in the tax laws.

The information that must be reported on Connecticut fuel tax includes: 1. Total gallons of motor fuel received or purchased, including both gasoline and diesel fuel. 2. Total gallons of motor fuel delivered or sold, including both retail and wholesale. 3. Total gallons of motor fuel used in non-highway applications, such as agricultural and off-road use. 4. Total gallons of motor fuel used in exempt purposes, such as government-owned vehicles or vessels. 5. Total gallons of motor fuel exported or removed for sale outside of Connecticut. 6. The tax rate applied to each type of motor fuel. 7. Total taxes due on motor fuel received or purchased, including both state and federal taxes. 8. Total taxes collected on motor fuel delivered or sold. 9. Any adjustments or refunds related to motor fuel taxes. 10. Any penalties or interest incurred for late or non-payment of motor fuel taxes. It is important to note that this information may vary or be updated by the Connecticut Department of Revenue Services, and further guidance can be found on their official website.

The penalty for the late filing of Connecticut fuel tax depends on the amount of unpaid tax and the period of delay. Generally, the penalty is calculated as a percentage of the unpaid tax and is applied for each month or part thereof that the return is late. As of 2021, the penalty rates are as follows: - For delays up to 1 month: 10% of the unpaid tax - For delays between 1 to 2 months: an additional 10% (total penalty of 20%) - For delays between 2 to 3 months: an additional 15% (total penalty of 35%) - For delays between 3 to 4 months: an additional 15% (total penalty of 50%) - For delays more than 4 months: an additional 5% per month (maximum penalty of 75%) It is important to note that interest may also be charged on the unpaid tax amount. Additionally, intentional failure to file a tax return or pay the tax can result in criminal penalties. It is advisable to consult the Connecticut Department of Revenue Services or a tax professional for specific and up-to-date information regarding fuel tax penalties.

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