Wv/mft-511 Form - West Virginia Motor Fuel Exporter Report - Filing Instructions

ADVERTISEMENT

WV/MFT-511
WEST VIRGINIA MOTOR FUEL EXPORTER REPORT – Filing Instructions
Overview:
Required Schedules
Schedule 7A
Schedule of Disbursements
Provide all requested information and attach all Required Schedules.
Schedule 7B
Schedule of Disbursements
This report must be filed monthly, even if no activity occurred during the month.
Schedule 11
Schedule of Diversion into WV
Obtain Diversion Numbers from the West Virginia Confirmation Registry System.
You will be assessed penalties and interest for any late filed return and/or late payment
Schedule 11A
Schedule of Diversions From
WV to another State.
of taxes.
Report must be postmarked by the Last Day of the month following the report month.
Any credit or refund may be applied against any outstanding tax department liability.
_________________________________________________________________________________________________________
SECTION 1 – REFUND CALCULATION: Report in Whole Gallons
Line 1.
By product type - Enter gallons exported (Schedule 7B) from WV on which the WV Flat Rate and Variable Rate tax was paid.
Line 2.
By product type - Enter gallons diverted from WV (Schedule 11A) on which the WV Flat Rate and Variable Rate tax was paid.
Line 3.
Add Line 1 and Line 2 (by product type) - Enter gallons to be refunded at the WV Flat Rate and Variable Rate tax
Line 4. Current West Virginia Flat Rate and Variable Rate Tax
Line 5.
Enter total amount of refund due.
Multiply Line 3 times Line 4 (by product type) - at the combined tax rate -
Line 6.
By product type – Enter gallons exported from WV (Schedule 7B) on which the WV Variable Rate tax was paid.
Line 7.
By product type – Enter gallons diverted from WV (Schedule 11A) on which the WV Variable Rate tax was paid.
Line 8.
Add Line 6 and Line 7 (by product type) – Enter gallons to be refunded at the WV Variable Rate tax only.
Line 9. Current West Virginia Variable Rate Tax
Line 10.
Enter total amount of refund due.
Multiply Line 8 times Line 9 (by product type) – at the variable rate tax –
Line 11.
Add Line 5 and Line 10 (by product types) – ENTER TOTAL REFUND DUE
SECTION 2 – REFUND/TAX SUMMARY:
(If tax due – Go to Section 3 and return to this section)
Line 1.
Enter amount from Section 3 Line 7
Total Amount of Tax Due –
Line 2.
Enter amount from Section 1 Line 13
Grand Total Refund Due –
Line 3.
Balance of Tax Due (Line 1 minus Line 2) – If Line 2 is greater than Line 1 – enter zero.
Line 4.
Overpayment Amount (Line 2 minus Line 1) – If Line 1 is greater than Line 2, enter zero.
Line 5.
Enter amount from Section 2 Line 4
REFUND DUE (To obtain a refund) -
Line 6.
Enter amount from Section 2 Line 4
CREDIT DUE (To take a credit on the next monthly return) -
SECTION 3 – TAX DUE CALCULATION: Report in Whole Gallons
Line 1.
By product type – Enter gallons diverted into WV (Schedule 11) on which the WV Flat Rate and Variable Rate tax is due.
Line 2. Current Combined West Virginia Flat Rate and Variable Rate Tax
Line 3.
Enter amount of tax due.
Multiply Line 1 times Line 2 (by product type) at the combined tax rate –
Line 4.
By product type – Enter gallons diverted into WV (Schedule 11) on which the WV Variable Rate tax is due.
Line 5. Current West Virginia Variable Rate Tax
Line 6.
Enter amount of tax due.
Multiply Line 4 times Line 5 (by product type) at the WV Variable Rate –
Line 7.
Enter Total Tax Due /
Add Line 3 and Line 6 (by product type) –
Transfer to Section 2 Line 1
NOTE: Remember to sign your return and maintain an copy for your records.

ADVERTISEMENT

00 votes

Related Articles

Related forms

Related Categories

Parent category: Legal
Go