Instructions For Form Op-337 printable pdf download

Instructions For Form Op-337

INSTRUCTIONS

Line 1.

Enter the total number of passenger motor vehicles rented or leased for 30 consecutive calendar days or less during this period. For the

surcharge, a “day” means each day, or portion of a day, for which a lessor charges a lessee for the lease or rental of a passenger motor

vehicle.

Line 2.

Enter the total number of days, or portion of a day, for which a charge was made for the rental/lease of vehicles.

Line 3.

The surcharge is $1 per day, or portion of a day, for which the lessor charged the lessee on the rental/lease of motor vehicles for 30

consecutive calendar days or less. Multiply the number of days on Line 2 by $1.

Line 4.

A credit is allowed for surcharges remitted on accounts determined to be worthless and written off for federal income tax purposes. The credit

must be taken on the next Form OP-337 due after the write-off for federal tax purposes.

Line 5.

Subtract Line 4 from Line 3.

Line 6.

Late Payment Penalty: If tax is due, the penalty for underpayment of the surcharge is 15% (.15) of the surcharge due or $50, whichever is

greater.

Late Filing Penalty: In the event that no tax is due, the Commissioner of Revenue Services may impose a $50 penalty for the late filing of any

return or report that is required by law to be filed.

Interest: If this is a late or amended return, interest should be computed at the rate of 1% (.01) per month, or fraction of a month, from the due

date until the date of payment. Interest is based on the amount that should have been remitted on time.

Line 7.

Add Line 5 and Line 6.

The return must be signed. Please note: The penalty for false statement is imprisonment not to exceed one year or a fine not t o exceed two thousand

dollars, or both.

Have you ceased leasing operations?

Yes

If “Yes,” enter date you ceased operations ___________________________________ .

OP-337 Back (Rev. 10/99)

Instructions For Form Op-337