Instructions For Form 7573 - Liquor Tax Return

Line 7.

Line 8.

Line 9.

Line 10.

Line 11.

Line 12.

Line 13.

Line 14.

Line 15.

Line 16.

Line 17.

17a.

ACCOUNT NUMBER

Enter the amount of alcoholic beverages subject to tax (subtract line 6 from line 5).

Preprinted tax rate.

Computed tax for each column (multiply line 7 by line 8). When calculating the computed tax, round up to the nearest cent if the amount is

0.005 or more. Round down to the nears cent if the amount is 0.0049 or less.

Tax due before commission and credits (add fields 9a through 9d).

Enter 1% commission of line 10 if paid timely (multiply line 10 by 0.01) Enter zero if payment is not timely.

Tax due before credits (subtract line 11 from line 10).

Enter the total amount of all of the current year's tax payment you have remitted to the Chicago Department of Revenue.

Enter credit for overpayment only if you have received a letter of credit from the Chicago Department of Revenue. Enter letter of

credit number and submit the original applicable credit letter or the credit will be disallowed.

Enter total credit balance (add lines 13 and 14).

Enter total tax due (subtract line 15 from line 12). If line 16 is greater than 0, enter amount owed. If line 16 is less than 0, skip to line 20.

Determine the amount of interest owed based on tax past due.

Enter number of days late (August 16 being one day late, etc.)

17b.

Enter the amount from line 16 ............................................................................

17C.

Line 18.

Line 19.

Line 20,

Line 21.

Total amount of interest (17b* [17a / 365]) * 12% .............................................

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 * (I 1/365)] * 12% = $361.64.

Enter 5% of line 16 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 in which taxable receipts are received.

Enter the total tax penalty and interest due (add lines 16, 17, and 18).

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 outs~nding for this tax and ~ deficiencies for any other

City of Chicago tax for which you are registered.

I I

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 COMPLETEI

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Instructions For Form 7573 - Liquor Tax Return - 2000 Page 3

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