Line-By-Line Instructions For Form Np, Net Profit License Tax Return (Page 2 of 4) in pdf

Line-By-Line Instruc ons for Form NP, Net Proﬁt License Tax Return

Important: Use Column A of Form NP to calculate the Net Proﬁt License Tax Due the City of Henderson, generated from business ac vity within the corporate city

limits of Henderson.

Use Column B of form NP to calculate the Net Proﬁt License Tax Due the Henderson County Fiscal Court, generated from business ac vity within Henderson County,

but outside the corporate city limits of Henderson.

Tax Computa on

TABLE A

Line 1.

Enter the Adjusted Net Proﬁt from Part 1, Line 17.

Line 2.

Enter the average alloca on percentage from Part II, Line 4.

Period Ending (Tax Year End)

Tax (%)

0.083

1/31/2016

Line 3.

Taxable Net Proﬁt. Mul ply Line 1 by Line 2.

0.167

2/29/2016

Line 4.

Henderson County Fiscal Court Exemp on is $10,000.

0.250

3/31/2016

Line 5.

For Henderson County only, subtract Line 4 from Line 3.

0.333

4/30/2016

Line 6.

Occupa onal License Tax Rate 1%

0.417

5/31/2016

Henderson County Fiscal Year Filers: PLEASE SEE TABLE A.

0.500

6/30/2016

0.583

Line 7.

7/31/2016

For City of Henderson, mul ply Line 3 by Line 6.

For Henderson County, mul ply Line 5 by Line 6.

0.667

8/31/2016

0.750

Line 8.

CITY OF HENDERSON—$25 Minimum License Tax Due.

9/30/2016

(NOTE: The $25 Minimum License Tax is not due if there was no business ac vity in the

0.833

10/31/2016

City of Henderson during the year.)

0.917

11/30/2016

HENDERSON COUNTY FISCAL COURT—$25 Minimum License Tax Due.

1.000

12/31/2016 and later

(NOTE: The $25 Minimum License Tax is not due if there was no business ac vity in

Henderson County, outside the corporate limits of Henderson during the year.)

Line 9.

City of Henderson (Column A): Compare amounts from Line 7 and Line 8. Enter the larger amount on Line 9.

Henderson County (Column B): Compare amounts from Line 7 and Line 8. Enter the larger amount on Line 9. For Henderson County only, if Line 7 exceeds

$2,000, enter $2,000.

Line 10. Enter on Line 10 any credits due from es mated payments or credits carried forward from a previous ﬁling period.

NOTE: Any overpayment of license tax to the City of Henderson, including payments made with an extension request, will not be allowed to oﬀset any

underpayment of license tax to Henderson County. Any overpayment of license tax to Henderson County, including payments made with an extension

request, will not be allowed to oﬀset any underpayment to the City of Henderson.

Line 11. If amount from Line 10 is larger than the amount from Line 9 enter diﬀerence as a refund or credit due. Please check box next to refund or credit to denote

how you prefer the overpayment to be handled for your account. If no box is checked, overpayment will be applied as a credit.

NOTE: Any overpayment of license tax to the City of Henderson, including payments made with an extension request, will not be allowed to oﬀset any

underpayment of license tax to Henderson County. Any overpayment of license tax to Henderson County, including payments made with an extension

request, will not be allowed to oﬀset any underpayment to the City of Henderson.

Line 12. If amount from Line 9 is larger than Line 10; enter diﬀerence as license tax due.

Line 13. If the Net Proﬁt License Tax Return is not ﬁled, or an extension is not requested, by the due date of the return; or if the license tax due is not paid by the due

date of the return, then penalty is assessed at the rate of ﬁve percent (5%) for each calendar month or frac on thereof that the return remains delinquent or

the license tax remains unpaid. The total penalty due shall never exceed twenty-ﬁve percent (25%) of the total license tax due; however the penalty will always

be a minimum of twenty-ﬁve dollars ($25).

Line 14. If the license tax due is not paid by the due date, interest is assessed at the rate of twelve percent (12%) per annum simple interest from the me the tax was

due un l the tax is paid. A full months’ interest of one percent (1%) is assessed on the ﬁrst day a er the due date of the Net Proﬁt License Tax Return and on

the ﬁrst day of each succeeding calendar month that the license tax remains unpaid.

Line 15. Add Lines 12, 13, and 14. This is the total license tax, penalty and interest due.

Line 16. Add Line 15 Column A to Line 15 Column B to determine the payment due with form NP.

NOTE: Any overpayment of license tax to the City of Henderson, including payments made with an extension request, will not be allowed to oﬀset any underpayment

of license tax to Henderson County. Any overpayment of license tax to Henderson County, including payments made with an extension request, will not be allowed

to oﬀset any underpayment to the City of Henderson.

(Form NP — Page 4 of 6)

(Revised 12/09/2016)