Form St-429 - Drycleaning Facility Surcharge Return (Page 2 of 2) in pdf

Form St-429 - Drycleaning Facility Surcharge Return Page 2

INSTRUCTIONS:

Line 1:

Enter the gross proceeds of sales of the drycleaning facility.

Line 2:

Multiply by the applicable surcharge rate (1%).

Line 3:

Enter total surcharge amount due.

Line 4:

Enter total of penalty and interest from calculations using information below or visit our website:

Line 5:

Enter total of lines 3 and 4.

PENALTY AND INTEREST

Failure to File A Return: Five percent (.05) of the amount of tax due (from line 3 of the return) for each month or

fraction of a month of delinquency, not to exceed twenty-five percent (.25) of the amount of tax due.

Failure to Pay Tax Due: The penalty is one-half of one percent (.005) of the amount of tax due (the total of line 3 of the

return) for each month or fraction of a month of delinquency, not to exceed a total of twenty-five percent (.25) of the

amount of tax due. The penalty for failure to file and pay must be combined and entered as a total on Line 4.

Interest: Interest is assessed in accordance with Section 6621 and 6622 of the Internal Revenue Code. Rates are based

on the prime rate, subject to change quarterly and are compounded daily.

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Form St-429 - Drycleaning Facility Surcharge Return Page 2