Form Dr-15n Instructions - Sales And Use Tax Returns (Page 6 of 8) in pdf

Line 6. Less Lawful Deductions

Method 1 – Average Tax Liability

Calculate 60% of your average sales tax due for the months

Enter the total amount of all allowable tax deductions, except sales

during the previous calendar year that you reported taxable

tax credit memos issued by the Department (reported on Line 8).

transactions.

Lawful deductions include tax refunded by you to your customers

for returned goods or allowances for damaged merchandise, tax

Example: When completing your December return, calculate

paid by you on purchases of goods intended for use or consumption

your average sales tax due for the entire prior calendar year. To

but sold by you instead, enterprise zone jobs credits, and any other

calculate your average, complete the following steps:

deductions allowed by law.

Step 1. Review all of your sales tax returns filed for the calendar

• If you are claiming any approved enterprise zone jobs credits,

year.

report the amount of the credits on Line 6 and on Line 16.

Step 2. Add together the amounts from Line 7 (minus any

discretionary sales surtax) from each return.

• Do not include documentation with your return.

Step 3. Divide the total of all Line 7 amounts by the number

of returns filed with tax due on Line 7 to compute the

The amount reported on Line 6 cannot be more than the amount

monthly average sales tax due.

reported on Line 5. If Line 6 exceeds Line 5, adjust the amount

Step 4. Multiply your monthly average sales tax due by 60%.

on Line 6 to equal the amount on Line 5, and claim any remaining

Step 5. Enter the amount determined in Step 4 on Line 9 of

balance on Line 6 of your next return.

each return due the following year, beginning with your

December return due January 1.

Line 7. Net Tax Due

Method 2 – Current Month/Previous Year

Subtract Line 6 from Line 5 and enter the amount on Line 7.

Calculate 60% of your sales tax due for the same month of the

previous calendar year.

Lines 8-9. Estimated Tax

Example: When completing your December return, multiply the

If you paid $200,000 or more in sales and use tax (excluding

amount on Line 7 of your January return for the same calendar year

discretionary sales surtax) on returns you filed during the most

(less discretionary sales surtax) by 60%. Enter that amount on Line 9.

recent state fiscal year (July through June), you must make an

Method 3 – Current Month

estimated sales tax payment every month, starting with the

Calculate 60% of the sales tax due for the next month’s return.

December return, due January 1. If this is your FINAL return or if

you have questions about estimated tax, call Taxpayer Services.

Example: When completing your December return, your

estimated tax liability is 60% of what you will report (minus

Line 8. Less Estimated Tax Paid/Department of

discretionary sales surtax) on your January return. Enter that

Revenue (DOR) Credit Memo -

amount on Line 9.

Enter the total amount of estimated tax you paid last month, the

Penalty for Underpayment of Estimated Tax – If you underpaid

amount of any sales tax credit memo(s) issued by the Department,

your last month’s estimated tax on Line 9, you owe a penalty of

and the amount of any specifically authorized tax credits for

10% on the underpaid amount. A Notice of Amount Due will be

which you have received a letter of approval from the Department.

issued by the Department if you underpaid estimated tax.

Follow the instructions sent to you from the Department.

Line 10. Amount Due

If the total amount of credits exceeds the Net Tax Due (Line 7),

adjust the Line 8 amount to equal Line 7, and claim any remaining

Subtract the amount on Line 8 from Line 7. Add the amount on

balance on Line 8 of your next return. If this is your FINAL

Line 9. Enter the result on Line 10. The amount entered on Line

return, complete an Application for Refund – Sales and Use Tax

10 cannot be negative.

(Form DR-26S) to obtain a refund of the credit balance.

Line 11. Less Collection Allowance

Line 9. Plus Estimated Tax Due Current Month -

E-file/E-pay Only

Enter the total amount of estimated tax due, if applicable, calculated

If you electronically file (e-file) your return and electronically pay

using one of the following three methods. You are NOT required

(e-pay) tax timely, you are entitled to receive a collection allowance.

to use only one method and may choose to use any one of these

The collection allowance is 2.5% (.025) of the first $1,200 of the

methods throughout the year.

Amount Due (Line 10), not to exceed $30.

Three Methods for Computing Estimated Tax

You are not entitled to a collection allowance if you file your return

or make your payment by a method other than electronic means.

The percentage for calculating estimated tax is 60%. Your

Filing and paying your tax using the Department’s website or using

estimated tax liability is based only on Florida sales and use tax

vendor software is fast, accurate, and secure. Visit e-Services on our

due (Form DR-15, Line 7, Net Tax Due minus discretionary sales

website for additional information about filing (e-file) and paying

surtax). If you incorrectly calculate or forget to enter your

(e-pay) tax electronically.

estimated tax, you cannot amend your return. Compute your

estimated tax liability by one of the following methods:

Only dealers who e-file and e-pay timely may receive a collection

allowance, and may choose to donate the allowance to the Educational

Enhancement Trust Fund. This fund is used to purchase up-to-date

Form Dr-15n Instructions - Sales And Use Tax Returns Page 6

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