Form 01-118 (Back)(Rev.1-97/14)
INSTRUCTIONS FOR COMPLETING TEXAS SALES AND USE TAX PREPAYMENT REPORT
FOR ASSISTANCE -
If you have any questions regarding
Items b and f.
If the return is not preprinted and you are a
sales tax, you may contact the Texas State Comptroller's
sole owner, enter your Social Security number. For other
field office in your area or call 1-800-252-5555, toll free,
types of organizations, enter the Federal Employer's Identi-
nationwide. The Austin number is 512/463-4600. If you're
fication Number (FEIN) assigned to your organization.
calling from a Telecommunications Device for the Deaf
If the return is not preprinted, enter the filing period of
(TDD), our toll free number is 1-800-248-4099, or in Austin,
this report (month or quarter) and the last day of the period in
the space provided. Examples: "Quarter Ending 09-30-96"
"Month Ending 10-31-96."
REQUIREMENTS FOR PREPAYMENT -
If you meet the
following requirements, you will receive a prepayment
Estimated Amount Subject to Tax is the total amount
discount of 1 1/4 percent (.0125) in addition to the timely filing
that is taxed at the same tax rate or combined tax rate.
discount of 1/2 percent (.005) for a total discount of 1 3/4
percent (.0175). Your estimated amount of prepayment (Item
Local tax rate represents a local tax or any combination of
6) must be at least 90% of the total tax that will be due for the
local taxes. For example, a city tax of 1% and a transit tax of
1% will equal to a 2% local tax (2a).
Your prepayment of tax must be equal to or greater than the
Multiply Estimated Amount Subject to Tax by the Tax Rate
total tax that was due and paid in the same reporting period
and enter the result in the Estimated Tax Due column.
(This amount does NOT include
of the preceding year,
discounts on your previous year's payment.)
State tax due is equal to Item 1a. Local tax due is the
total of Items 2a through 2p.
Your prepayment report and payment must be postmarked
Multiply Item 3 by Item 4 (prepayment credit amount
on or before the due date for the period.
only) and enter the result.
In either instance, your regular sales and use tax return must
be filed on time.
Subtract Item 5 from Item 3 and enter the result.
DUE DATES OF PREPAYMENT REPORTS -
Add Items 6a and 6b, and enter the result here and in
prepayment reports are due on the 15th of each month.
Quarterly prepayment reports are due as follows:
1st quarter -
Enter your state prepayment amount (Item 6a).
2nd quarter -
3rd quarter -
Enter your local prepayment amount (Item 6b).
4th quarter -
If the due date falls on a Saturday, Sunday or
legal holiday, the next business day will be the
Payments postmarked or transmitted after the due
date will not be eligible for the additional prepay-
If you prepaid on time but filed your return late, no
discounts will be allowed. Penalty will be
assessed only on the tax due that exceeds the
amount you prepaid.