Tacos Locos 1 Pollo Way Mesa, AZ 85202 480-555-5555 EIN 45-398686 License 223689 Food sales for January 2019 is $10,253 Beverage sales for January 2019 is $4,532 Rent collected from EZ Street $2,000 Cost of food $4,000 Cost of beverages $665 Sales Tax Collected Food $1,331 Rental tax collected $36 Enter your name for preparer. Vendor used to supply food and beverages: Big Market 23 Super Store Drive Mesa, AZ 85202 480-667-7777 Account # 25869 Inventory: Business property Account number 456234. one of the items were transferred from another location and taxes were not already paid. Purchased 9/5/18 Stove $1,300 Sold 12/1/18 Grill $2,500 Purchased 5/5/18 Beverage Machine $1,000 Purchased 6/12/17 listed Booths $5,000 Balance as of 12/31/18 Food $3,000 Balance as of 12/31/18 Beverages $2,250 Balance as of 12/31/18 Office Supplies $1,400 You are an accountant hired to complete the tpt-ez form for your client Tacos Locos. Tacos Locos is a restaurant that sells food and beverages. In addition, Tacos Locos rents part of their building to EZ Street. Based on the details below, you must complete the tpt-ez form using the January 2019 rates listed on the Arizona Department of Revenue website. Figure out the protentional deduction(s) on schedule A. Determine if Tacos Locos is allowed an accounting credit. What form does Tacos Locos need to complete for its vendor Big Market for exemption of sales tax? Find the form and complete it for Tacos Locos. In addition to completing the tpt-ez form and the exemption certificate, help Taco Locos complete the business property statement form. After completion of the above mentioned forms, you Calculate TRANSACTION PRIVILEGE, USE, AND SEVERANCE TAX RETURN - (TPT-EZ) Arizona Department of Revenue PO Box 29010 - Phoenix, AZ 8503B-9010 Form TPT-EZ is for filing For assistance out of state or in the Phoenix area: (02) 255-3351 or periods beginning on or Statewide, toll free area codes 520 and 928: (800) 352-4090 after June 1, 2016. TPT-EZ return is due the 20th day of the month following the month in which the transactions were conducted TAXPAYER IDENTIFICATION NUMBER OSSN EN 45-398686 LICENSE NUMBER 223689 PERIOO BEGINNING PERIOD ENDING TAXPAYER INFORMATION AVENDED RETURN O FAL RETURN Carcel Lone CHECK HERE MO SIGN BELOW IF YOU HAVE NO GROSSBECEPTS TO REPORT BUSINESS NAME Tacos Locos REVENUE USE ONLY DO NOT MARK IN THIS ARE DO NOT MARK IN THSAR MAILING ADDRESS 1 Pollo Way CITY STATE ZIP CODE Mesa AZ 85202 BUSINESS PHONE NUMBER ADCRESS CHANGED MAILINO ADDRESS ONLY) 65-5555 REMINDER ABOUT PRINTING: * Use the Blue PRINT buttons to print your completed return with calculations. Do NOT use the print icon on the menu bar RESET BUTTON * Use reset button to reset ALL fields. CALCULATE BUTTON: * Yelow fields will auto-calculate, if not click Calculate button. AA NET A COUNTY TAX PAGE 2 LINE 7. COLUMNM...... AL STATE EXCESS TAX COLLECT AZ EXCESS TAX ACCOUNTING CREDIT... AJ SUBTOTALILINE AAA1-A2 NETIAZ COUNTY TAK)..... BB NET CITY TAX (PAGE 2 LINE 14. COLUMNM. 31 CITY EXCESS TAX COLLECTED B2 SUBTOTAL LINE 0.01 NET CITY TAX)..... ce NET TAX QUE ON THIS RETURN (LINE AB UNE LINE CC) DD TPT ESTIMATED PAYMENTS TO BE USED ON THIS RETURN FAUNE RETURN ONLY OUE IN JULY)............ EE TAX DUE NET OF TPT ESTIMATED PAYMENTS LINE CC.UNE DOUNE EE FF TOTAL AMOUNT REMITTED WITH THE RETURN....... Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and beliet, it is true, correct and complete. Declaration of preparer other than taxpayer) is based on all information of which preparer has any knowledge The taxpayer designates the individualisted below as the person to contact to schedule an autof this return and authorizes the disclosure of confidential information to the inddual. N PRIVILEGE, USE, AND SEVERANCE TAX RETURN - (TPT-EZ) LICENSE NUMBER: COUNTY TRANSACTION DETAIL (See Table 1 on the Tax Rate Table www.dor gov) C D ) DEDUCTIONS NAME OF OUS DESC OF GROSS REGIONA LES ACTIVITY RECEIPTS SCHEDULE A ( FO COUNTY TAX RATE | | | | | ACCTNOX CREDIT ACCOUNTING . A COUNTY 7 ADCOUNTY SUBTOTAL AMOUNT IN COLUMNM MUST EQUAL PAGE 1. LINE AA) CITY TRANSACTION DETAIL (See Table on the Tax Rate Table, wwwandor gov LA) C) DI LOC CITY BUS DESC OF CODE CODE NAME OF CITY COOL BUS ACTIVITY GROSS RECEIPTS 14 CITY SUBTOTAL (AMOUNT IN COLUMN M, MUST EQUAL PAGE 1 LINE BB NOTE: The deduction amounts that have been listed on the lines in column G must be itemized by category for each region code and business code reported The total of the amounts listed in Schedule A must equal the total of the Deduction Amounts listed in column 1. What happens to Tacos Locos if they submit the tpt-ez form on the 25th of February? 2. Calculate the penalties for filing the January 2019 tpt-ez form 6 months late. Can any of these penalties be waved? 3. Are there any penalties if you submit the tpt-ez form on time but do not submit payment? 4. What happens if you make a mistake on an already filed return? Let's say for January 2019 the total beverage sales should be $8,663. What are the steps to make the correction? 5. What if Tacos Locos did not make a profit? Do they need to file the January 2019 tpt-ez form? 6. What if Tacos Locos forget to collect transaction privilege tax from the customers? Do they need to file the tpt-ez form? 7. Is Tacos Locos required to renew their tpt-license every year? If so, what is the process or cost to renew the license? 8. Why is it important for Tacos Locos to complete the exemption form to Big Market? What would happen if the form was never completed? Tacos Locos 1 Pollo Way Mesa, AZ 85202 480-555-5555 EIN 45-398686 License 223689 Food sales for January 2019 is $10,253 Beverage sales for January 2019 is $4,532 Rent collected from EZ Street $2,000 Cost of food $4,000 Cost of beverages $665 Sales Tax Collected Food $1,331 Rental tax collected $36 Enter your name for preparer. Vendor used to supply food and beverages: Big Market 23 Super Store Drive Mesa, AZ 85202 480-667-7777 Account # 25869 Inventory: Business property Account number 456234. one of the items were transferred from another location and taxes were not already paid. Purchased 9/5/18 Stove $1,300 Sold 12/1/18 Grill $2,500 Purchased 5/5/18 Beverage Machine $1,000 Purchased 6/12/17 listed Booths $5,000 Balance as of 12/31/18 Food $3,000 Balance as of 12/31/18 Beverages $2,250 Balance as of 12/31/18 Office Supplies $1,400 You are an accountant hired to complete the tpt-ez form for your client Tacos Locos. Tacos Locos is a restaurant that sells food and beverages. In addition, Tacos Locos rents part of their building to EZ Street. Based on the details below, you must complete the tpt-ez form using the January 2019 rates listed on the Arizona Department of Revenue website. Figure out the protentional deduction(s) on schedule A. Determine if Tacos Locos is allowed an accounting credit. What form does Tacos Locos need to complete for its vendor Big Market for exemption of sales tax? Find the form and complete it for Tacos Locos. In addition to completing the tpt-ez form and the exemption certificate, help Taco Locos complete the business property statement form. After completion of the above mentioned forms, you Calculate TRANSACTION PRIVILEGE, USE, AND SEVERANCE TAX RETURN - (TPT-EZ) Arizona Department of Revenue PO Box 29010 - Phoenix, AZ 8503B-9010 Form TPT-EZ is for filing For assistance out of state or in the Phoenix area: (02) 255-3351 or periods beginning on or Statewide, toll free area codes 520 and 928: (800) 352-4090 after June 1, 2016. TPT-EZ return is due the 20th day of the month following the month in which the transactions were conducted TAXPAYER IDENTIFICATION NUMBER OSSN EN 45-398686 LICENSE NUMBER 223689 PERIOO BEGINNING PERIOD ENDING TAXPAYER INFORMATION AVENDED RETURN O FAL RETURN Carcel Lone CHECK HERE MO SIGN BELOW IF YOU HAVE NO GROSSBECEPTS TO REPORT BUSINESS NAME Tacos Locos REVENUE USE ONLY DO NOT MARK IN THIS ARE DO NOT MARK IN THSAR MAILING ADDRESS 1 Pollo Way CITY STATE ZIP CODE Mesa AZ 85202 BUSINESS PHONE NUMBER ADCRESS CHANGED MAILINO ADDRESS ONLY) 65-5555 REMINDER ABOUT PRINTING: * Use the Blue PRINT buttons to print your completed return with calculations. Do NOT use the print icon on the menu bar RESET BUTTON * Use reset button to reset ALL fields. CALCULATE BUTTON: * Yelow fields will auto-calculate, if not click Calculate button. AA NET A COUNTY TAX PAGE 2 LINE 7. COLUMNM...... AL STATE EXCESS TAX COLLECT AZ EXCESS TAX ACCOUNTING CREDIT... AJ SUBTOTALILINE AAA1-A2 NETIAZ COUNTY TAK)..... BB NET CITY TAX (PAGE 2 LINE 14. COLUMNM. 31 CITY EXCESS TAX COLLECTED B2 SUBTOTAL LINE 0.01 NET CITY TAX)..... ce NET TAX QUE ON THIS RETURN (LINE AB UNE LINE CC) DD TPT ESTIMATED PAYMENTS TO BE USED ON THIS RETURN FAUNE RETURN ONLY OUE IN JULY)............ EE TAX DUE NET OF TPT ESTIMATED PAYMENTS LINE CC.UNE DOUNE EE FF TOTAL AMOUNT REMITTED WITH THE RETURN....... Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and beliet, it is true, correct and complete. Declaration of preparer other than taxpayer) is based on all information of which preparer has any knowledge The taxpayer designates the individualisted below as the person to contact to schedule an autof this return and authorizes the disclosure of confidential information to the inddual. N PRIVILEGE, USE, AND SEVERANCE TAX RETURN - (TPT-EZ) LICENSE NUMBER: COUNTY TRANSACTION DETAIL (See Table 1 on the Tax Rate Table www.dor gov) C D ) DEDUCTIONS NAME OF OUS DESC OF GROSS REGIONA LES ACTIVITY RECEIPTS SCHEDULE A ( FO COUNTY TAX RATE | | | | | ACCTNOX CREDIT ACCOUNTING . A COUNTY 7 ADCOUNTY SUBTOTAL AMOUNT IN COLUMNM MUST EQUAL PAGE 1. LINE AA) CITY TRANSACTION DETAIL (See Table on the Tax Rate Table, wwwandor gov LA) C) DI LOC CITY BUS DESC OF CODE CODE NAME OF CITY COOL BUS ACTIVITY GROSS RECEIPTS 14 CITY SUBTOTAL (AMOUNT IN COLUMN M, MUST EQUAL PAGE 1 LINE BB NOTE: The deduction amounts that have been listed on the lines in column G must be itemized by category for each region code and business code reported The total of the amounts listed in Schedule A must equal the total of the Deduction Amounts listed in column 1. What happens to Tacos Locos if they submit the tpt-ez form on the 25th of February? 2. Calculate the penalties for filing the January 2019 tpt-ez form 6 months late. Can any of these penalties be waved? 3. Are there any penalties if you submit the tpt-ez form on time but do not submit payment? 4. What happens if you make a mistake on an already filed return? Let's say for January 2019 the total beverage sales should be $8,663. What are the steps to make the correction? 5. What if Tacos Locos did not make a profit? Do they need to file the January 2019 tpt-ez form? 6. What if Tacos Locos forget to collect transaction privilege tax from the customers? Do they need to file the tpt-ez form? 7. Is Tacos Locos required to renew their tpt-license every year? If so, what is the process or cost to renew the license? 8. Why is it important for Tacos Locos to complete the exemption form to Big Market? What would happen if the form was never completed