Instructions For 2017 Sales, Use And Withholding Taxes Monthly/quarterly Return (Form 5080)
ADVERTISEMENT
12017 Form 5080, Page 2
Instructions for 2017 Sales, Use and Withholding
Taxes Monthly/Quarterly Return (form 5080)
IMPORTANT: This is a return for Sales Tax, Use Tax,
• I f the tax is more than $5,400 and paid by the 20th,
and/or Withholding Tax. If the taxpayer inserts a zero
calculate
discount
using
this
formula:
on (or leaves blank) any line for reporting Sales Tax,
(Tax x .6667 x .005). The maximum discount is $15,000
Use Tax, or Withholding Tax, the taxpayer is certifying
for the tax period.
that no tax is owed for that tax type. Only enter figures
Accelerated Filer
for taxes that you are registered and/or liable for. If it is
• I f the tax is paid by the 20th, calculate discount using this
determined that tax is owed, the taxpayer will be liable for
formula: (Tax x .6667 x .005). No maximum discount
the deficiency as well as penalty and interest. Complete
applies.
the Sales, Use and Withholding Taxes Monthly/Quarterly
and
Amended
Monthly/Quarterly
Worksheet
PaRT 2: USE Tax ON ITEMS PURchaSEd f OR
(Form 5095, hereafter referred to as Worksheet 5095)
BUSINESS OR PERSONal USE
prior to completing this form.
Line
7:
Carry
amount
from
line
13
of
the
PaRT 1: SalES aNd USE Tax
Worksheet 5095. To determine your use tax due from
purchases and withdrawals, use the inventory value of the
Line 1a: Report the amount from Worksheet 5095, line 4A.
item and multiply by 6%.
Line 1b: Report the amount from Worksheet 5095, line 4B.
PaRT 3: WIThhOldINg Tax
Line 2a: Total sales tax. Negative figures are not allowed.
Enter gross sales minus allowable deductions times 6%,
Line 8: Enter the total Michigan income tax withheld for the
which is the amount from line 7A on Worksheet 5095.
tax period.
Line 2b: Total use tax. Negative figures not allowed.
PaRT 4: TOTal Tax/PayMENT dUE
Enter total receipts from sales, rentals, and services, minus
Line 9: If amount is negative, this is the amount available for
allowable deductions, times 6%, which is the amount from
future tax periods (skip lines 10-14).
line 7B on Worksheet 5095.
Line 10: Enter any payments you submitted for this period,
Line 5: Enter total allowable discounts. Discounts apply
prior to filing the return. If you are using an overpayment
only to 2/3 (0.6667) of the sales and/or use tax collected at
from a previous period only enter the amount needed to pay
the 6 percent tax rate. See below to calculate your discount
the total liability for this return. In the event an overpayment
based on filing frequency:
still exists declare it on the next return you file with a
Monthly Filer
liability. (Liability minus overpayments/prior payment for
• I f the tax is less than $9, calculate the discount by
this period must be greater than or equal to zero).
multiplying the tax by 2/3 (.6667).
Line 14: Amount due with this return. Add lines 11, 12 and
• En ter $6 if tax is $9 to $1,200 and paid by the 12th, or $9
13. Make check payable to the “State of Michigan.” Write
to $1,800 and paid by the 20th .
your account number, “SUW” and the tax year on your
check. Do not pay if the amount due is less than $1.
• I f the tax is more than $1,200 and paid by the 12th,
calculate
discount
using
this
formula:
how to compute Penalty and Interest
(Tax x .6667 x .0075). The maximum discount is $20,000
for the tax period.
If your return is filed with tax due, include penalty and
interest with your payment. Penalty is 5% of the tax due and
• I f the tax is more than $1,800 and paid by the 20th,
increases by an additional 5% per month or fraction thereof,
calculate
discount
using
this
formula:
after the second month, to a maximum of 25%. Interest is
(Tax x .6667 x .005). The maximum discount is $15,000
charged daily using the average prime rate, plus 1 percent.
for the tax period.
Refer to for current interest rate
Quarterly Filer
information or help in calculating late payment fees.
• I f the tax is less than $27, calculate the discount by
multiplying the tax by 2/3 (.6667).
• En ter $18 if tax is $27 to $3,600 and paid by the 12th, or
$27 to $5,400 and paid by the 20th.
• I f the tax is more than $3,600 and paid by the 12th,
calculate
discount
using
this
formula:
(Tax x .6667 x .0075). The maximum discount is $20,000
for the tax period.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial