Idaho Form 850 U PDF Details

In the realm of tax obligations for Idaho residents, the OR850-U form emerges as a critical tool for reporting and fulfilling use tax liabilities. This document is particularly geared towards individuals or non-business entities who find themselves with less than $50 in use tax due or in scenarios involving a singular, substantial purchase such as jewelry, artwork, or even an aircraft. Designed to bridge the gap for transactions where sales tax hasn't been directly collected, the Idaho 850 U form serves as a self-assessment mechanism, ensuring that goods utilized or stored within Idaho's borders are appropriately taxed, maintaining fair play in the state's economic ecosystem. Ostensibly straightforward, the form facilitates the reporting of one or multiple transactions, with a dedicated worksheet for calculating the tax owed based on the purchase price and applicable rate. It underscores the state's efforts to capture use tax on purchases made via mail-order catalogs, the Internet, or those acquired out-of-state and subsequently brought into Idaho. Detailed instructions simplify the process of tracking untaxed purchases, aligning with the state's sales tax regulations. Thus, the form not only underscores the taxpayer's responsibility but also aids in upholding the fiscal integrity of Idaho's taxation system, crafting a direct path for individuals to comply with their tax obligations.

QuestionAnswer
Form NameIdaho Form 850 U
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namesidaho form 850 u, untaxed, form, idaho

Form Preview Example

OR850-U

Idaho Self-Assessed Use Tax

F

 

M EFO00143

Worksheet and Return

 

01-02-09

 

Use Form 850-U to report and pay the use tax you owe. If you owe less than $50 in use tax, you will generally use this form. However, you may also use this form if you’re an individual (non-business) and you make a one-time large dollar purchase of items such as jewelry, artwork, or an aircraft. You can report single or multiple transactions. If you pay by check, please attach your check to the return.

What is use tax? Use tax is a tax on goods that you put to use or store in Idaho. If you have not paid sales tax on these goods, you owe use tax (unless the items are held for resale or an Idaho exemption applies). If Idaho or another state’s sales tax is added to the purchase price, you do not owe use tax. The use tax rate is the same as the sales tax rate.

For example, if you buy merchandise through the Internet, over the telephone, or from mail-order catalogs, and sales tax is not added to the price, you are responsible for paying the use tax directly to the Idaho State Tax Commission. Also, if you travel outside the state and purchase untaxed merchandise that is brought or shipped to your Idaho home, you owe use tax.

Use the worksheet below to track your untaxed purchases. Keep this worksheet for your records.

Column 1. Enter the date you purchased the untaxed goods. Add the purchase date to the Tax Period ield on the 850-U. If you made multiple purchases, enter the dates of your irst and last purchases.

Column 2. Enter a description of the goods purchased.

Column 3. Enter the purchase price of the goods from Column 2. Total Column 3, and enter amount on Line 1 of 850-U.

Column 4. Multiply the purchase price in Column 3 by the use tax rate* at the time of purchase. Total Column 4, and enter amount on Line 2 of the 850-U.

Use Tax Worksheet

Column 1

Column 2

Column 3

Column 4

Purchase Date

Description of Goods

Purchase Price

Column 3 x rate*

 

 

Total Purchases Subject to Use Tax

»

 

 

 

* Rate if purchase date is:

 

 

 

 

 

 

 

 

 

Oct. 1, 2006 or after, the rate is 6% (.06).

 

 

Total Use Tax Due »

July 1, 2005 - Sept. 30, 2006, the rate is 5% (.05).

 

 

May 1, 2003 - June 30, 2005, the rate is 6% (.06).

 

 

 

 

April 30, 2003 or before, the rate is 5% (.05).

 

 

 

 

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OF 850-U

Idaho Self-Assessed Use Tax Return

 

 

 

 

R EFO00143 (01-02-09)

 

 

 

 

 

 

M

 

 

 

 

 

 

Name

Address

Social Security Number or Federal ID Number

 

Month

Year

Month

Year

Tax Period

__ __ / __ __ __ __

to __ __ / __ __ __ __

City

State

ZIP

1. Amount Subject To Use Tax

$

2. Use Tax Due (from worksheet)

$

My check is attached

 

 

 

(

)

Signature

 

Date

 

Phone number

Mail to: Idaho State Tax Commission, PO Box 36, Boise ID 83722-0410

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