| 1. |
Total Gross Receipts for the period means
the entire amount received from sales of tangible personal
property including fees, commissions, or other charges.
This would also include sales from services, which may
be exempted from sales tax but are not exempted from the
business tax act. This figure should not include any adjustments
for discounts, credits for returned sales or any of the
deductions for business tax purposes listed in Schedule
A. |
| 2. |
Deductions for business tax purposes are
outlined in Section A on the reverse side of the return.
No deduction is allowable neither with respect to the
Cost of Merchandise Sold nor for Operating Expenses. A
separate listing will accompany the return for current
fuel, tobacco, and beer factors to the applicable businesses.
(a) Deduction for Bad Debts Expense NOT allowed.
(b) Deduction for Wholesale sales NOT allowed.
(c) Deduction for sub-contractors MUST be documented by
an itemized listing, which shows amount paid, and complete
address. No deduction will be allowed for the cost of
materials used, labor cost, taxes, delivery charges, etc.
|
| 3. |
Taxable Gross Receipts for the period is
the balance after subtracting deductions (Line 2) from
Total Gross Receipts (Line 1). This is the figure to which
the tax rate on Line 4 and 5 is to be applied in computing
the gross tax due.
NOTE: Sales made to a consumer are Retail Sales regardless
of the selling price. Only sales made for actual resale
are considered wholesale sales. |
| 4-5. |
The division of gross sales into retail
and wholesale is allowable with the following conditions
being applicable:
(a) If more than 80% of Total Taxable Receipts (Line
3) is from retail business, the tax is computed on
the Total Taxable Receipts as though all receipts
were from retail business only.
(b) If less than 20% of Total Taxable Receipts (Line
3) is from retail business, the tax is computed on
the Total Taxable Receipts as though all receipts
were from wholesale business only.
To calculate the tax owed, multiply
the percentage rate by the respective gross sales
amount and enter on Line 4 and/or 5 as applicable.
|
| 6. |
Gross Business Tax Due. This is the sum
of tax due (Line 4 + 5). |
| 7. |
Allowable credits must be shown in detail.
Such credits generally are in two categories:
(a) Credit for minimum tax paid from last expired license.
(b) The amount of Personal Property Tax actually paid
within the business tax period listed at the top of the
return may be applied as a credit. The date paid, receipt
number and amount must be documented. No carry over credits
for prior years may be claimed.
NOTE: As you are filing a city return, only the tax paid
to the city may be ` claimed. |
| 8. |
Enter on line 8 the total of Line 6 less
all credits on Line 7. |
| 9. |
The imposition of penalty for delinquency
in filing and payment of tax due is statutory. Penalty
is to be computed at 5% of Line 8 for each 30-day period
of delinquency or fraction thereof up to a 25% maximum
of the tax due. However, the minimum penalty shall not
be less than $15.00 regardless of the amount of tax due,
or whether there is any tax due. |
| 10. |
The imposition of interest on late returns
and payment of tax due is also statutory. Interest is
to be computed per annum, and there are no minimum limitations.
The current interest rate is 12.25%, with a daily factor
of .00030137. (Line 8 x factor x number of days delinquent) |
| 11. |
Enter on Line 11, the total of Line 8, 9,
and 10. |
| 12. |
The local tax collecting authority is authorized
by law to charge a recording fee not in excess of $5.00.
Please check the appropriate space as to whether the return
represents a renewal of a current license or a final return
for a business no longer in operation. |
| 13. |
If renewing a current license, enter the minimum license tax
($15.00). If this is a final return, enter zero.
|
| 14. |
Penalty is assessed on minimum tax (Line
13) at the same rate and calculation instructions as noted
for Line 9 with no minimum penalty limitations. |
| 15. |
Interest is assessed on minimum tax (Line
13) at the same rate and calculations instructions as
noted for Line 10. |
| 16. |
Balance of Tax Due. Add Lines 11, 12, 13,
14, and 15. |
