Calculation of Business Tax Gross Sales $ 800,000; including $ 50,000 in sales of services to persons in other states Cash Discounts 12,000 Sales Returns 16,000 Bad Debts 6,000 Company is a retailer whose dominant business activity is sale of electrical supplies. Using the TN Business Tax Form and Resource notes as a guideline, calculate the business tax for the year (show calculations) Tennessee Business Tax Application for business registration Taxable privilege to do business in TN Register with county clerk issue business license must display license Business Categories Retailer - sells to user Wholesaler - sells to retailer for resale Business Classification (1A, 1B, 2A, 2B, etc) Determined by dominant business activity your major, principal source of gross sales Tax Rates depend on classification tax applied to net sales For example: Net Sales Rate Tax $1,000,000 .001 Class 1A $1,000 Uniformity & Small Business Relief Act of 2013 Businesses with less than $10K in sales no business tax return Businesses with $3K - $10K in sales minimal activity license Business Tax Return based on fiscal year (calendar year or other) due 15th of 4th month following 30 day extension allowed TENNESSEE DEPARTMENT OF REVENUE COUNTY BUSINESS TAX RETURN Ping Pond Account No: HV RO012301 INTERNETIS FEINSUNTIN Business conse No. BUS 415 Due Date Location Address Classification 1A Make your check payable to Tennessee Department of Revenue and mail to Tennessee Department of Revenge Andrew Jackson State Office Building 500 Deaderick Street Nashville, Tennessee 37242 Should you need assistance, please contact the Tupayer Services Division by calling our statewide number 1-800-342-100 ort615) 251-0600 Name: Address: A which If this is an AMENDED RETURN please check the box at right City: Suite Zp *] } it is a retum for a CLOSED business please check the box right Character of Sefer Select oneonly Business tax diction for which return is being fled: Wholesale Rutador Name of my Nur Ayer way between ROUND TO NEAREST DOLLAR (1) 1. Tolosa (Excluding set) 2. Eller deduction from Schedule A Line (21 2) 2. Taxable prosesi Gad Line 2 tom Line 1) Business tres muy Line Wholesalers multiply Line 3 by is not prepid, refer to chart on reverse Det out of personal property taxes camiot exceed 50% of Line 4). (5) 8 8 8 8 8 8 8 8 8 8 103 Touloue Line bom Line Enter result of 572whichever is greater En cut mame balance .00 (0) ponos paid by the due date, sociol 9. Tamount due (Add Us onduttract Line) (Make check payable to the Tennessee Department of Revenue (10) FOR OFFICE USE ONLY ISL 500000000 00000000000000 INTERNET 10-15 Schedule A. Deductions from Gross Sales 1. Salos of services received by persons located in other states 11) - 2. Remed merchandise when the sale price refunded to the stomer 2) 3. Sales in internal commerce where the purchase takes possessioonide Terrasse for use or 13) consumption outside Tennessee 4. Cash discounts allowed and taken on sales 14) 5. Repossessions. The portion of the unpaid principal balance in excess of $500 due on tanghie per sonal property repossessed from antomers... 5) 6. The amount owed as Vade-in value forary artides sold 16) 7. Bad debts willen of uning the reporting period and eligible to be deducted for lederal income tax purposes (7) B.Amounts paid by a contractor to a subcontractor holding ther a business license or contractor's loanse for performing acties described Tenn Code Ann Section 67-4-70348A). Must complete Schedules and file with the retum 15) Federal and Tennessee privilege and excise taxes (Not A deduction vedente records and testens med or they wil bewed) 8 8 8 8 8 8 8 8 9. Federal and Tennessee gasoline tak 10. Federal and Tennessee motor fuel tax 00 .00 11. Federal and Tennessee tobacco taxon garantes (11) 12. Federal and Tesetbacco tax on other tobacco products (12) 00 13. Federal and Tennessee beer la 8 8 8 8 8 8 8 8 8 14. Tennessee special tax on petroleum products 1 .00 15. Tennessee liquified ges tax for cortain motor vehides (15 16. To beer wholesale tak T. Other deductions not there on the rulum Specy (17) 00 16. Total Deductions Add Lines through 17. Entre and in Page 12 TAX PERIOD DUE DATE CLASSIFICATION Clut Case 18 & 10 C D RETAILERRATES WHOLESALER RATES 0001 0.000 0.001 0.000379 0.0005 apricotle Netapplicatie 0.0003128 0.0015 0.000379 0.00157 0.00037 Notice Non the 15 of the en ung the of a Data