Get Lst-1 Local Services Tax Employer Return

Filling out the LST-1 Local Services Tax Employer Return is an important responsibility for employers. This guide will serve as a comprehensive framework to help you navigate the required fields and sections of the form effectively, ensuring an accurate submission.

Follow the steps to complete your online LST-1 form easily.

1. Click ‘Get Form’ button to obtain the LST-1 Local Services Tax Employer Return and open it in your preferred editing interface.
2. Begin by entering your name in the designated field, followed by your mailing address, including city, state, and ZIP code.
3. Locate the 'Quarter' and 'Year' sections. Fill in the appropriate quarter and year for which you are filing the return.
4. In the 'Jurisdiction' section, indicate the jurisdiction under which you are filing the tax return, ensuring it aligns with your designated area.
5. Enter your unique 'Federal EIN', which is crucial for identifying your business with federal tax authorities.
6. Proceed to the payment information section, starting with 'Total of SD Only Payments'. Input the total amount of service tax payments made.
7. Fill in the 'Number of Exemptions Enclosed' and the 'Number of Employees Reported' to help compute your tax obligations accurately.
8. In the 'Amount Withheld' field, specify the amount of tax that has already been withheld from employees' wages.
9. Calculate the discount by multiplying line 4 (amount withheld) by the designated percentage, and document this in the corresponding field.
10. Determine the 'Net Amount Due' by subtracting the discount from the amount withheld and enter this value.
11. If applicable, compute any penalty due after the due date by multiplying the net amount due by 0.05 and write it in the penalty field.
12. Calculate any interest due per month post due date, using a rate of 0.5%, and enter the result.
13. Summarize the total penalty and interest by adding the figures from the previous two lines and input the amount.
14. Total the amount of your check enclosed by adding the net amount due and the total penalty and interest, and write that figure clearly.
15. Review your completed form for any mistakes. Make necessary corrections to your name, address, and business location if applicable.
16. Once you affirm that all information is accurate, save your changes, download, print, or share the completed LST-1 form as required.

Complete your LST-1 Local Services Tax Employer Return online today to ensure compliance and avoid any penalties.