Yes, that will give available weight (payload) you can carry.
As far as i know, the vehicle itself will have a tongue weight rating as will the hitch. But depending on how much stuff you carry in the TV will fine tune those numbers. Just make sure your tires will carry your load. When i hauled truck campers, that was my weak link in the equation.
Once, :E i had to swap out my bolts for my hitch. I upgraded them to aircraft quality. Not because i'm so smart, it was due to the fact that the hitch bolts went 'snap crackle n pop' while bouncing along a bumpy road.
got time to dissect this post ? it's entertaining.
https://www.rv.net/forum/index.cfm/fuseaction/thread/tid/14265335.cfm
