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How to use or fill out the OS-114 Approved 07-22-08Fill In Version.indd - CT.gov online
Filling out the OS-114 form is essential for businesses in Connecticut to report their sales and use tax accurately. This guide will navigate you through the process, ensuring you complete the form correctly and meet all filing requirements.
Follow the steps to fill out the OS-114 form effectively.
- Click the ‘Get Form’ button to access the online version of the OS-114 form. This will open the document for you to complete.
- Begin by entering your Connecticut Tax Registration Number at the top of the form. This number identifies your business with the state of Connecticut.
- Fill in the Federal Employer Identification Number, which is necessary for tax reporting purposes.
- Indicate the period ending for which you are filing the return. This helps the Department of Revenue Services track your tax obligations accurately.
- In the 'Gross receipts' sections (1-3), report the total sales from goods, leases, services, or any other relevant categories as per the instructions provided.
- For purchases subject to use tax (lines 4-6), input the amounts your business has bought that fall under tax regulations.
- Calculate the total amount from lines 1-6 and report that total on line 7.
- If applicable, complete the reverse side of the form to claim deductions and input the total deductions on line 8.
- Subtract line 8 from line 7 to determine the balance subject to tax on line 9. If the result is zero or less, enter '0.'
- Multiply the result on line 9 by 6% to find the gross amount of tax due, which you will enter on line 10.
- If this is an amended return, enter any tax already paid on prior returns on line 11.
- Subtract line 11 from line 10 to calculate the net amount of tax due to be reported on line 12.
- Review the general instructions regarding interest and penalties for late payment and enter those values if necessary.
- Finally, sum the amounts on line 12 and any late payments to find the total amount due on line 14.
- Complete the declaration at the bottom of the form by signing it and providing all necessary information. Ensure the date is also included.
- Once you have filled out the form, proceed to save your changes, download the document, or print it for submission.
Complete your tax documents online today for a streamlined filing experience.
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The sales and use tax in Connecticut is a tax on the sale of goods and services, generally set at a rate of 6.35%. However, there are various exemptions and conditions under which this tax applies. For specific details, including exemptions and how to file, refer to the OS-114 Approved 07-22-08Fill In Version.indd - CT.
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