Get Bptform Loyalsock Township And School District Business

The BPTFORM LoyalSock Township and School District Business privilege tax form is essential for reporting your business's gross receipts. This guide will help you navigate filling it out online, ensuring all necessary information is accurately completed.

Follow the steps to successfully complete the form online.

1. Click ‘Get Form’ button to obtain the form and open it for completion.
2. Enter the tax year in the designated field at the top of the form.
3. Provide your business information in the relevant sections, ensuring accuracy.
4. In Line 1, record your actual gross receipts and attach a copy of IRS Schedule C.F. or E, or any supporting documents.
5. On Line 2, enter the annual exclusion amount (select only one), which is $5,000.00.
6. In Line 3, calculate the taxable gross receipts by subtracting Line 2 from Line 1.
7. For Line 4, compute the tax due. In section (A), if you are in retail, service, or rental, multiply Line 3 by .0015. In section (B), if applicable, multiply Line 3 by .001 for wholesale.
8. Add the totals from Line 4 (A) and (B) for Line 5 to determine your total tax.
9. If postmarked on or before March 31, calculate the 2% discount on Line 6 by multiplying Line 5 by .02.
10. In Line 7, subtract Line 6 from Line 5 for the tax owed at discount.
11. If postmarked after April 30, find the 10% penalty by multiplying Line 5 by .10 for Line 8.
12. For Line 9, calculate 1% interest for each month or fraction thereof after the due date of April 30 by multiplying Line 5 by .01 and the number of months late.
13. Add Lines 8 and 9 for Line 10 to find the total penalty and interest.
14. Finally, add Line 5 and Line 10 for Line 11 to get your total tax, penalty, and interest, which must be paid in full when filing the return.
15. Complete the owner’s and preparer’s signature sections and provide necessary contact information.

Complete your business privilege tax form online today!