IFTA IQ Test – ANSWERS
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Transcript of IFTA IQ Test – ANSWERS
IFTA IQ Test – ANSWERS
True or False
#1
Jurisdictions are required to finalize their tax rates and determine tax exemptions.
True: Procedures Manual, P1120.100 and P1130
#2
An annual IFTA tax return is for one calendar year.
True: Articles of Agreement, R930.200
#3
A recreational vehicle is not a qualified motor vehicle but a bus transporting children to a church recreation camp is a qualified motor vehicle.
TRUE: R248
#4
Temporary IFTA permits can be issued for 60 days
False: Articles of Agreement, R263 and R650
#5
When a carrier fails to pay your jurisdiction, you can require them to post a bond.
True: Articles of Agreement, R340 and Procedures Manual, P400
#6
To stream line the renewal process your jurisdiction can automatically renew active licenses.
True: Articles of Agreement, R345.200
#7
Jurisdictions are required to send an initial billing and a second billing for IFTA tax returns that do not have complete payments.
False.
#8
Jurisdictions cannot write off credit or debit amounts.
False: Articles of Agreement, R1120
#9
Jurisdictions must have an appeal procedure in place for licensees whose license has been revoked
True: Articles of Agreement, R370, R1400
#10
Trip permits are not allowed in lieu of IFTA licensing.
False: Articles of Agreement, R310
#11
Jurisdictions must charge a fee for decals and licenses
False: Articles of Agreement, R355 and Procedures Manual, P145 and P320.300
#12
Licensees must provide a lease when they renew.
False: Articles of Agreement, R540, P520
#13
Jurisdictions cannot have their state logo on the IFTA decal
False: Procedures Manual, P320.100
#14
If you can verify that a company has a valid IFTA license then they do not need to have a copy in the vehicle they are operating.
False: Articles of Agreement, R620
#15
Licensees can transfer decals between vehicles
False: Articles of Agreement, R640
#16
Licensees must renew their IFTA license and decals by December 31st of each year because there is no grace period.
True: Articles of Agreement, R610 (Grace period is for display see R655)
#17
Licensees are exempt from reporting fuel information for cement trucks because they manufacture a product while on the road.
True/False: R830.100
#18
Licensees can request a refund when credit exists from their IFTA tax return. However, jurisdictions can issue the refund whenever they want.
Part 1: True: Articles of Agreement, R1110. Part 2: False: Articles of Agreement R1150
#19
IFTA tax returns are considered “Timely” when the return is received along with the complete payment by the return due date.
True: Articles of Agreement, R920, R960 and R970
#20
Annual IFTA tax reporting is allowed when a licensee operation has less than 5,000 miles or 8,000 kilometers in all jurisdictions.
False: R930.200 “in all member jurisdictions other than the base jurisdiction.
#21
Each tax return must contain a complete tax rate matrix as part of the form.
False: Articles of Agreement, R940.100, Procedures Manual, P730 and P720.500 and P720.500.010
#22
The letters “IFTA” on the IFTA decal must be a minimum of ½”.
False: Procedures Manual, P320.100
#23
The jurisdiction must notify all member jurisdictions within 15 days of all revocations/suspensions or reinstatements.
False: Articles of Agreement, R420
#24
The jurisdiction must allow a licensee to submit a computer-generated tax return in lieu of the standard tax return.
False: R940.300
#25
Payments of billing transmittals received from other jurisdictions are made by the last day of the month following the month in which the billing transmittal was received.
True: P1040