Instructions For Form Au-474 - Application For Refund Of The Petroleum Business Tax Because Of A Bad Debt - New York State Department Of Taxation And Finance Page 2

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AU-474-I (3/95) (back)
Examples
Example 3 - On September 25 your company delivered 190
gallons of aviation gas to Three Sons Aviation. The total selling
Example 1 - On September 20 your company delivered 190
price of $238.07 included a PBT of $27.57. A finance charge for
gallons of aviation gas to Solo Aviation. The invoice showed a total
late payment was charged in the amount of $30.45 on
selling price of $238.07 and a petroleum business tax of $27.57.
November 30. Your company becomes a monthly filer as of
Since no payment was ever received on the account, the amount of
December 1. On December 4 a second sale totaling $587.56 was
the refund requested would be $27.57. See sample schedule
made. The PBT included on the invoice was $66.75. On
below.
January 30 a late payment charge of $56.34 was charged.
Payments totaling $660 were made before the account was written
Example 2 - On September 30 your company delivered 190
off as a bad debt. The payments were applied to the earliest sale
gallons of aviation gas to Two Brothers Aviation for a total selling
first, paying it in full. Payment was applied to the finance charge of
price of $238.07. A payment of $150 was received on the account.
November 30. The remaining amount of $391.48 ($660 - 238.07 -
Using the Worksheet for Partial Payments, the following
30.45) is the partial payment on the second sale. The charges for
calculations are made:
late payment that occurred after the sale do not affect the amount
of the bad debt. Using the Worksheet for Partial Payments, the
(a) Selling price ............................................................. $238.07
refund would be calculated as follows:
(b) PBT included in selling price (190 gals X .1451*) ..
27.57
(a) Selling price .............................................................. $587.56
(c) Percentage of PBT in selling price (27.57/238.07)
.1158
(b) PBT included on invoice ...........................................
66.75
(d) Partial payment ....................................................... $150.00
(c) Percentage of PBT (66.75/587.56) ...........................
.1136
(e) Amount of partial payment applied to PBT
(d) Partial payment ......................................................... $391.48
(.1158 X 150) .......................................................
17.37
(e) Amount of partial payment applied to PBT
(f) PBT allowed as bad debt refund (25.57 - 17.37) ...
10.20
(.1136 X 391.48) ....................................................
44.47
See sample schedule below.
(f) PBT allowed as refund (66.75 - 44.47) .....................
22.28
* Rate obtained from Publication 908, Article 13-A Tax Rates
See sample schedule below.

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