1. Answer the following six questions in a Word document using short-answer essay format. Be sure to label your answer with the correct letter.
2. Rico's Tacos Place & Food Truck wants to file their transaction privilege taxes annually. Estimate an average of their sales for the week and determine if they meet the requirements to be an annual filer. Explain the requirements and pros and cons.
3. Rico's Tacos Place & Food Truck informed you that they didn't have the money to pay their taxes and wants to know if will be any penalties assessed if they file the TPT-EZ form on time but do not submit payment. Describe what happens in this situation.
4. Rico's Tacos Place & Food Truck did not make a profit for February 2023. Do they need to file the February 2023 TPT-EZ form? Explain your answer.
5. Rico's Tacos Place & Food Truck added a food truck in 2023. Do they need a separate license for the truck? Do they need to add a separate city to the license that the food truck operates? Explain your answer.
6. Rico's Tacos Place & Food Truck does not understand who needs to pay use tax and if they need to pay it. Define use tax and give examples related to their business on whether or not they owe use tax.
7. Rico's Tacos Place & Food Truck wants to know why is it important for their company to complete the exemption form for Carne Market. What would happen if the form was never completed? Explain your answer.

Rico's Tacos Place & Food Truck 50 Plaza Street Phoenix, AZ 85021 602-555-5555 EIN 45-398622 License 223644

Sales, Tax, Expenses, and Rent Transactions

Transaction	Amount
Food sales from restaurant for March 2023	$20,000
Food sales from rood truck events	$2,000
Cost of food	$4,000
Sales tax factored / collected	$1,189

Other information:

Enter your name for preparer.

Vendor Company Information

Vendor used to supply food and beverages:

Carne Market 125 W. Haven Drive Mesa, AZ 85202 480-667-3377 Account # 25839

Inventory Information

Inventory: Business property Account number 256234.

Date	Item	Amount
Purchased 9/5/22	Stove	$3,000
Sold 12/1/22	Grill	$1,000
Acquisition 2020	Beverage Machine	$1,000
Acquisition 2019	Tables & Chairs	$2,000
Balance as of 12/31/22	Food	$1,000
Balance as of 12/31/22	Office Supplies	$2,500