Fillable Fab-103 - Food And Beverage Tax (Page 2 of 2) in pdf

Fab-103 - Food And Beverage Tax Page 2

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For Amnesty Filing Only

Instructions for completing Form FAB-103

(The following instructions are valid for this form only.)

A. Total Sales − Enter the total receipts from food and beverage sales. Do not include sales tax or food and bever-

age tax on this line.

B. Total Exempt Sales − Enter the total exempt food and beverage sales. This figure cannot be greater than the amount

on Line A.

C. Net Taxable Sales − Subtract Line B from Line A. This figure must never be greater than Line A.

D. Tax Due − Multiply Line C by the county tax rate listed on your return. If there is an entry on this line, there must be

entries on Line A and Line C.

E. Collection Allowance − Use this line only if your return and payment were made on or before the due date. The

Does Not Apply

Collection Allowance is available only when the payment is remitted timely.

F. Net Tax Due − Subtract Line E from Line D.

G. Penalty/Interest Due − A payment made after the due date is subject to penalty and interest on the total on Line D.

The penalty is 10 percent of the total on Line D, or $5, whichever is greater. To calculate interest, multiply the amount

Does Not Apply

due by the annual interest rate and divide the result by 365.Multiply that result by the number of days the payment is

late. Interest is computed from the due date of the return to the date payment is made. Interest is not computed on the

penalty.

H. Adjustments − Adjustments can be an overpayment or underpayment. If Line H has a negative entry, use a negative

sign. A negative adjustment must have an explanation attached or the adjustment will be disallowed. This line cannot

be greater than the amount due.

Total Amount Due − Add Lines F and G plus or minus Line H. Include this amount with your return.

Please do not send cash. Make check payable (in U.S. funds) to the Indiana Department of Revenue.

Fab-103 - Food And Beverage Tax Page 2

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