Get Nd Lease Tax Worksheet

Filling out the Nd Lease Tax Worksheet is a straightforward process that can be completed online. This guide will provide you with clear instructions on how to accurately fill out each section of the form to ensure proper calculation of the motor vehicle excise tax on lease consideration.

Follow the steps to fill out the Nd Lease Tax Worksheet online.

1. Press the ‘Get Form’ button to access the Nd Lease Tax Worksheet and open it in your chosen editor.
2. Begin by entering the 'Name of Lessor' and 'Name of Lessee' at the top of the form. This identifies the parties involved in the lease agreement.
3. Fill in the 'Year,' 'Model,' and 'Make' of the motor vehicle being leased. This information is essential for accurately identifying the vehicle.
4. Locate the section titled 'Calculation of Motor Vehicle Excise Tax on Lease Consideration.' Input the total 'Sum of all consideration under lease,' which includes: payment due at signing or delivery, sum of lease payments for the full term, and any security deposits or disposition fees.
5. In the 'Less Nontaxable Items' section, list any deductions applicable, such as the 1st month's payment if it is part of the down payment, net trade-in value, rebates, non-cash credits, and document fees. Ensure that all applicable nontaxable items are entered to calculate the correct taxable value.
6. Calculate the 'Taxable value of lease consideration' by subtracting total deductions from the total consideration. Multiply this value by 5% to determine the 'Motor Vehicle Excise Tax Due on Lease.'
7. Complete the dealer information by filling in the 'Dealer Name,' 'Dealer Number,' and having the dealer sign and date the form.
8. After filling out the form, make sure to save any changes you have made. You can also download, print, or share the completed form as needed.

Start filling out the Nd Lease Tax Worksheet online today for a smooth leasing process.