Video instructions and help with filling out and completing Fill Form 8815 Transaction

Instructions and Help about Fill Form 8815 Transaction

The Arizona Department of Revenue presents a tutorial completing the TPT easy for a retail business the Arizona Department of Revenue offers free electronic filing at WWDC taxes gov for transaction privilege tax returns businesses with more than one physical location must file electronically in order to file electronically using ez taxes gov it is necessary to first register for an AZ taxes account on the EZ taxes website email notifications are sent to the user when the registration for online filing is complete the following tutorial gives an example of completing the TPT ez form for a retail business located in Cave Creek the TPT ez form may be used to report transaction privilege tax in the place of the TPT to form for businesses with only one location or jurisdiction the TPT ez is due the twentieth day of the month following the reporting period in which the tax is collected or accrued the new TPT ez form has separate sections to report combined state and county transaction details and city transaction details the form also has separate schedule a sections for the combined state and county deduction details and the City deduction details the schedule a sections must be correct and complete or deductions taken will be disallowed it is necessary to have all receipts records invoices and any worksheets applicable to the grocery seats for the reporting period before beginning to complete the return worksheets can be found on the AZ do our website for compiling and factoring transaction privilege tax and can be helpful for our example we will be preparing a return for a retail business with a store in Cave Creek the total combined tax rate for Cave Creek for the reporting period was nine point three percent the rate was comprised of a state and county combined rate of 6.3% and the city rate of tax of three percent for business code oh one seven the total sales for the reporting period are as follows gross receipts of three thousand three hundred sixty three dot sixty six cents exempt sales for resale transactions totaled two hundred and sixty five dollars the total tax collected at this location was two sixty three sixty page one of the new TPT easy will serve as a summary sheet for your return the upper left-hand portion of page one is for your business demographic information there are checkboxes to indicate if the return is amended a final return or if the business had no gross receipts to report there is a checkbox to indicate if the mailing address for the business has changed the upper right hand portion of page one has a space for the taxpayer identification number and license number of the business there are spaces for the period beginning and period ending dates for the return there is space for the department to record the postmark date and receive date of the return lines a a through FF on page one are used to summarize the totals of tax reported on the transaction details from page two of the form transaction detail sections and deduction details sections on page two must be completed before the summary on page 1 page 2 of the TPT easy is for reporting transaction and deduction details lines 1 through 6 are used to report the state and County combined transaction details subtotals for the combined state and county section are entered on line 7 the amount in column M must equal page 1 line a a lines 8 through 13 are used to report the city transaction details subtotals for the city section are entered on line 14 the amount in column M must equal page 1 line B B there are separate schedule a's for reporting the deduction details and totals for both the combined state and county section and the city section of the return the deduction amounts that are listed on the lines in column G must be itemized by category for each region code and business class reported the total amounts listed in schedule a must equal the total deduction amounts listed in column G for our example the location is in Maricopa County the region code for maricopa county is ma our for our example the business activity is retail which is entered in column e and the business code for column D is a17 the region code and business code can be found on the transaction privilege tax rate tables available on the Department's website column F is for gross receipts in our example that is 3360 $3.66 column G is the deduction total for our example this was 528 66 cents this includes tax factored or collected in this region and any exempt sales instructions on itemizing the deductions will be covered later in the tutorial subtract column G from column F this is the net income subject to tax and is entered in column H in this example that amount is 2008 thirty-five dollars if the return is not pre-printed or you are preparing a blank form you can find the combined state and County tax rates by checking the tax rate tables at wwsz do our govt if you receive your tax returns by mail or file online the tax rates for your activity or for the counties for which you report should be pre printed on the TPT form multiply column H by column I to get the total tax for the line item and enter the result in column J and our example the amount is 178 dollars and 61 cents the accounting credit rate for your business activity should be pre-printed on the form if you are preparing a blank form you can find the accounting credit rate in the tax rate tables at wwe's edu or gov the Department allows this credit to taxpayers who file and pay their transaction privilege tax is timely and in full if these conditions are not met