Note: The total of County Taxable Sales cannot be greater
than your total State Net Taxable Sales. The total of City
Taxable Sales cannot be greater than the total for the
county in which the city is located.
6 (CITY/COUNTY TAX) - Total due from Column N will be calculated and the City/County tax due
result will be displayed.
LINE 7 (TAX DUE) - This will be the total state, city and county tax due before
any discount, interest, or penalty is applied.
LINE 8 (DISCOUNT) - If remittance is
submitted by the due date shown in Item C, you are eligible for a discount for timely
payment. Line 7 will be multiplied by the 1.0% discount rate. A maximum amount of
$2,500.00 per month is allowed.
LINE 9 (INTEREST) - If remittance is
submitted after the due date shown in Item C, the tax is subject to interest from the due
date (Item C) until it is paid. Line 7 will be multiplied by the 1.25% rate for each
month or part thereof that the tax is late.
LINE 10 (PENALTY) - If remittance is
not submitted within 15 calendar days of the due date, a 10% penalty is due. Line 7 will
be multiplied by .10 to determine the penalty.
LINE 11 (TOTAL DUE) -
Line 8 will be subtracted from line 7, plus lines 9 and 10 and results displayed.