Form 7577 - Instructions For Preparing The Vehicle Fuel Tax Return 2000 Page 2
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2II
ACCOUNT NUMBER
Use these instructions for tax periods beginning January 1, 2000.
INSTRUCTIONS FOR PREPARING THE
VEHICLE FUEL TAX RETURN - 7577
LINE 12.
LINE 13.
LINE 14.
14a.
Enter the total credit balance (add lines 10 and 11).
Enter total fee due (subtract line 12 from line 9). If line 13 is greater than O, enter the amount owed.
If line 13 is less than O, skip to line 17.
Determine the amount of interest owed based on tax past due.
Enter number of days late (August 16 being one day late, etc.) ..................
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14b.
Enter the amount from line 13 ......................................................................
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.
14¢.
LINE 15.
LINE 16.
LINE 17.
LINE 18.
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Total amount of interest (14b* [1 Ca / 365]) * 12%
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EXAMPLE: If you determine that you owe $100,000 onthe due date (August 15) and you file and pay the tax on August 26, then you
are 11 days late in making the payment. The calculation of the interested owed is as follows: [$100,000 * (11/365)] * 1296 = $361.64.
Enter 5% of line 14 to compute penalty if tax is not paid when due. The tax is due on or before the 15th day of the second
month following the fiscal year inwhich taxable receipts airs received.
Enter the total tax penaltyand interest due (add lines 13, 14, and 15).
Overpayment. If line 16 is less than 0, enter the amount of overpayment.
If you want the amount of the overpayment to be credited to next year's estimated tax, enter a check in the credit box.
Otherwise, check the refund box.
NOTE: Any amounts overpaid will first be applied to deficiencies outstanding for this tax and to deficiencies for any other City
of Chicago tax for which you are registered.
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FOR ADDITIONAL INFORMATION CALL 312-747/9723 (TDD 312.744-2975)
NOTE: YOU MUST COMPLETE ALL INFORMATION ON THIS PAGE FOR THIS RETURN TO BE CONSIDERED COMPLETE.
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7577022
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Rev 005 0614
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