Form 429- Fuel Supplier And Wholesaler Prepaid Sales Tax Report Page 2
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1
2Michigan Department of Treasury
Form 429
Line-by-Line Instructions for Wholesalers
Follow these instructions if you are a wholesaler who:
1. Sells fuel at retail, including deliveries to company owned stations.
2. Makes no retail sales, but who delivers fuel (on which sales tax has been prepaid) to out-of-state locations.
Line 1
Enter your account number.
If discount payment voucher (form 161) or sales tax return
(form 160) is filed:
Enter the name under which the business is registered.
Line 2
a. By the 12th of the month due, enter 0. (Full discount
Line 3
Enter the business address.
allowed on voucher or return.)
Note: This form is separated from other forms or
b. After the 12th, but by the 20th, enter .25% (.0025) on
correspondence for processing. Without lines 1, 2 and
2/3(.6667) of line 8. (.5% discount allowed on return.)
3 we cannot identify the taxpayer.
Enter the return period to which this credit is to be applied
(e.g. Line 8 = 10,000, $10,000 x .6667 = $6,667 x
Line 4
.0025 = $16.67.)
(month/year).
c. After the 20th, enter .75% (.0075) on 2/3 (.6667) of line
Line 5
Total amount due. Enter the total amount due from Payment
8. (e.g. Line 8 = 15,000, $15,000 x .6667 = $10,000.50
Amount line of Form 161, or Total Payment line on your
x .0075 = $75.00.)
Form 160.
For filling out the discount voucher or return, follow the
Line 6
Sales tax prepaid to supplier adjusted for ending inventory.
booklet General and Line-by-Line Instructions included
For lines 6a, 6b, and 6d, separately enter the total prepaid
with your Sales, Use and Withholding Tax returns, including
gasoline gallons and the total prepaid diesel fuel gallons
in the fields provided.
instructions for the discounts.
a. Enter the total dollars prepaid on prior month’s ending
Line 10 Enter total of sales prepaid (line 8) and discount (line 9).
fuel inventory.
Line 11 Net payment due. Subtract line 10 from line 5 and enter
b. Enter purchases on which tax was prepaid to the State
the difference. If line 8 is a negative credit (line 7 is greater
on Form 173 or to the supplier during return period.
than line 6e), then add line 8 to line 5 and enter total on line
NOTE: The number of gasoline and diesel fuel gallons
11. Skip lines 9-10. This is your net payment due. Make
your check for this amount rather that the amount shown
purchased and amount of dollars prepaid should be
on your voucher 161, or tax return 160. DO NOT write that
determined from your purchase invoices for this period.
amount on your return. Send Form 429 with your payment
c. Enter total of lines a and b.
and voucher 161 or return 160 to the address for filing
d. Enter ending fuel inventory (wholesale plus retail) for
your regular return. If line 10 is more than line 5, you may
return period.
use the excess credit on your next month’s return. Simply
e. Adjusted prepayments. Subtract line 6d from Line 6c.
reduce the amount of the check for the next month by the
Amount of prepaid tax recovered on sales to wholesaler
Line 7
amount of the overpayment. Do not alter or adjust the tax
and/or retailer, except for gallons and amount on line 6e.
due figures on the next return because of this credit.
Enter gallons and total prepayment recovered.
If you wish to receive a refund, you must attach
Line 8
Net amount prepaid. Subtract line 7 (amount recovered)
correspondence (include your name and account number)
from line 6e (Adjusted Prepayments).
requesting a refund (or other disposition of credit).
Sales tax early payment discount. NOTE: The discount is
Line 9
allowed only on the 4% tax rate. No discount is allowed on
the additional 2%. This line does not apply if retail sales are
to tax exempt customers and/or no sales tax is due. For
taxpayers who make an early payment by the 12th and a
timely payment by the 20th, the combined discounts cannot
exceed $20,000.00 per tax per month. The maximum
allowable discount for payments made after the 12th, but
before the 20th, is $15,000 per tax per month.
Instructions for Wholesalers Who Have No Sales, Use or Withholding Tax Liability on a Continuing Basis.
Do not file a Combined Return for Michigan Taxes (Form 160). Enter “0” on line 5 and on line 9. Otherwise, follow instructions above.
File this form with your Discount Voucher (Form 161) or Combined Return (Form 160).
If you are not required to file a return, mail this form and a letter requesting a refund to:
Michigan Department of Treasury, P.O. Box 30427, Lansing, Michigan 48909.
Call (517) 636-6925 if you have any questions.
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