Form 14-118 - Motor Vehicle Seller-Financed Sales Tax Declared Estimate And Prepayment
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114-118
(Rev.2-03/2)
TEXAS MOTOR VEHICLE SELLER-FINANCED SALES TAX
DECLARED ESTIMATE AND PREPAYMENT
a. Taxpayer number
b. Filing period
c. Due date
Taxpayer name and mailing address
d.
You have certain rights under Ch. 559,
Government Code, to review, request,
and correct information we have on file
about you. Contact us at the address or
toll-free number listed on this form.
REQUIREMENTS FOR PREPAYMENT
To receive the additional prepayment discount, you must meet the following requirements:
your estimate of tax must equal at least 90% of the total tax that will be due for the reporting period, OR
it must be the same as the tax that was due and paid in the same period of the preceding year;
AND
your prepayment report must be postmarked on or before the due date.
NOTE: If your prepayment is late or underestimated, the prepayment discount will not be allowed. The
payment will be applied as a credit to the tax due on the return required to be filed for the period.
COMPUTATION OF ESTIMATED TAX AND PREPAYMENT
1. Enter your estimate of TOTAL TAXABLE Seller-Financed Sales Receipts for the period
1.
2. Estimated 6.25% tax for the period
2.
(Multiply item 1 by .0625)
3. 1.75% PREPAYMENT DISCOUNT
3.
(Multiply item 2 by .0175)
4. TOTAL TAX DUE
4.
(Item 2 minus item 3)
DETACH BELOW AND KEEP THIS UPPER PART FOR YOUR RECORDS
RETURN THIS PART ONLY WITH YOUR PAYMENT
Form 14-118 (Rev.2-03/2)
TEXAS MOTOR VEHICLE
e.
SELLER-FINANCED SALES TAX
DECLARED ESTIMATE AND PREPAYMENT
5. TOTAL AMOUNT DUE AND PAYABLE
5.
(From item 4)
f.
g.
Taxpayer name
T Code
I declare that the information in this document and all attachments is true and correct
Taxpayer number
Period
to the best of my knowledge and belief.
Authorized agent
Make the amount in Item 5 payable to STATE COMPTROLLER
Mail to: COMPTROLLER OF PUBLIC ACCOUNTS
Business phone
Date
Austin, Texas 78774-0100
For assistance call 1-800-252-1382 toll free nationwide or call 512/463-4600.
From a Telecommunication Device for the Deaf (TDD) ONLY call 1-800-248-4099
toll free or call 512/463-4621.
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