Michigan Form 5092 PDF Details

The Michigan Department of Treasury's Form 5092 represents a crucial tool for businesses in amending their sales, use, and withholding taxes for monthly or quarterly periods within the current year, as indicated by Public Acts 167 of 1933 and 94 of 1937. Specifically designed for alterations including increases or decreases in tax liability, corrections of previously reported figures, and claims for previously unclaimed prepaid sales tax, this form caters to a broad spectrum of adjustments. It meticulously accounts for gross sales, rentals, services, and the use tax on items purchased for both business or personal use, summing up the total tax or payment due. The procedure for filling out the form demands precise recalculations of taxable amounts, application of allowable discounts based on filing frequency, and accurate computation of penalties and interest for late filings. The certification section at the form's end underscores the taxpayer's responsibility for the accuracy and completeness of the amended return, emphasizing the legal implications of perjury. Payment instructions, including making checks payable to the "State of Michigan", highlight the operational aspects of complying with state regulations on tax amendments. Form 5092 thus encapsulates a comprehensive framework for addressing tax reporting discrepancies, guided by a structured approach to documenting and rectifying previous submissions.

QuestionAnswer
Form NameMichigan Form 5092
Form Length3 pages
Fillable?No
Fillable fields0
Avg. time to fill out45 sec
Other namesmichigan department of treasury form 5092, michigan 5092 2016, form 5092 state of michigan 2019, michigan form 5092

Form Preview Example

Michigan Department of Treasury 5092 (08-14)

2015 Sales, Use and Withholding Taxes Amended Monthly/Quarterly Return

Issued under authority of Public Acts 167 of 1933 and 94 of 1937, as amended.

Taxpayer’s Business Name

 

 

 

 

 

Business Account Number (FEIN or TR Number)

 

 

 

 

 

 

 

 

 

Tax type being amended

 

 

 

 

 

Return Period Ending (MM-YYYY)

 

 

 

 

 

 

 

 

 

 

 

Sales Tax

 

Use: Sales and Rentals

 

Withholding Tax

 

Use Tax on Purchases

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reason Code for Amending Return (See Instr.)

If other, provide explanation

PART 1: SAlES AnD USE TAx

1. Gross sales, rentals and services

1a.

CORRECTED

Sales

1b.

CORRECTED

Use: Sales and Rentals

2.Total sales and/or use tax. Taxable amount multiplied

by 6% (0.06) ..................................................................................

3.Total pre-paid tax from Form 5083, 5085 or 5086

(e-ile only).....................................................................................

4.Remaining amount of sales and use tax eligible for discount. Subtract line 3 from line 2..............................................................

5.Total of allowable discounts. Multiply line 4 by your applicable discount rate..................................................................................

6.Total sales and use tax due. Subtract line 5 from line 4 .............

2a.

3a.

4a.

5a.

6a.

A. Sales Tax

XXXXXXX

2b.

3b.

4b.

5b.

6b.

B. Use Tax

XXXXXXX

PART 2: USE TAx On ITEMS PURChASED fOR BUSInESS OR PERSOnAl USE

7. Total amount of use tax from purchases and withdrawals from inventory. Multiply taxable amount

 

by 6% (0.06)

7.

PART 3: WIThhOlDIng TAx

8. Total amount of Michigan income tax withheld

8.

PART 4: TOTAl TAx/PAyMEnT DUE

9.

Amount of sales, use and withholding tax due. Add lines 6a, 6b, 7 and 8. If amount is negative, this is the

 

 

amount available for future tax periods (skip lines 10-14)

9.

10.

Total amount applied for this return period including overpayments available from previous periods or

 

 

amount previously paid for this return period

10.

11.

Amount of tax due. Subtract line 10 from line 9. If line 10 is greater than line 9, this is the amount

 

 

available for future tax periods (skip lines 12-14)

11.

12.

Penalty paid with this return (for late iling)

12.

13.

Interest paid with this return (for late iling)

13.

14.

TOTAl PAyMEnT DUE. Add lines 11, 12 and 13

14.

TAxPAyER CERTIfICATIOn: I declare under penalty of perjury that this return is true and complete to the best of my knowledge.

Signature of Taxpayer or Oficial Representative (must be Owner, Oficer, Member, Manager, or Partner)

Printed Name

Title

Date

Make check payable to “State of Michigan” and include your account number on your check.

Send your return and any payment due to: Michigan Department of Treasury, P.O. Box 30324, Lansing, MI 48909-7824

+ 0000 2015 88 01 27 5

Instructions for Sales, Use and Withholding Taxes Amended Monthly/Quarterly Return (form 5092)

NOTE: You must use Form 165 to amend tax years prior to 2015.

Form 5092 is used to amend monthly/quarterly periods in the current year. Complete the return with the corrected figures. Check the box for each tax type you are amending and provide the amended reason code located in the instructions. If the reason code is “Other,” write an explanation for the amendment.

IMPORTANT: This is a return for Sales Tax, Use Tax, and/ or Withholding Tax. If the taxpayer inserts a zero on (or leaves blank) any line for reporting Sales Tax, Use Tax, or Withholding Tax, the taxpayer is certifying that no tax is owed for that tax type. If it is determined that tax is owed, the taxpayer will be liable for the deficiency as well as penalty and interest.

Reason code for amending return: Using the table below, select the two-digit code that best represents the reason for amending the return. Enter the code in the appropriate field in the taxpayer information at the top of page 1.

01Increasing tax liability

02Decreasing tax liability

03Incorrect information/igures reported on original return

04Original return was missing information/incomplete

05Claiming previously unclaimed pre-paid sales tax

06Dispute an adjustment

07Tax Exempt

08Other

PART 1: SAlES AnD USE TAx

Line 1a: Total gross sales for tax period being reported. Enter the total of your Michigan sales of tangible personal property including cash, credit and installment transactions and any costs incurred before ownership of the property is transferred to the buyer (including shipping, handling, and delivery charges).

Line 1b: This line is used to report the following:

•Out-of-state retailers who do not have retail stores in Michigan: Enter total sales of tangible personal property including cash, credit, and installment transactions.

•Lessors of tangible personal property: Enter amount of total rental receipts.

•Persons providing accommodations: This would include but not limited to hotel, motel, and vacation home rentals. This also includes assessments imposed under the Convention and Tourism Act, the Convention Facility Development Act, the Regional Tourism Marketing Act, the Community Convention or Tourism Marketing Act.

•Telecommunications Services: Enter gross income from telecommunications services.

Line 2a: Total sales tax. Negative figures are not allowed or valid.

Line 2b: Total use tax. Negative figures not allowed or valid.

Line 5: Enter total allowable discounts. Discounts apply only to 2/3 (0.6667) of the sales and/or use tax collected at the 6 percent tax rate. See below to calculate your discount based on filing frequency:

Monthly Filer

•If the tax is less than $9, calculate the discount by multiplying the tax by 2/3 (.6667).

•Enter $6 if tax is $9 to $1,200 and paid by the 12th, or $9 to $1,800 and paid by the 20th .

•If the tax is more than $1,200 and paid by the 12th,

calculate discount using this formula: (Tax x .6667 x .0075). The maximum discount is $20,000 for the tax period.

•If the tax is more than $1,800 and paid by the 20th,

calculate discount using this formula: (Tax x .6667 x .005). The maximum discount is $15,000 for the tax period.

Quarterly Filer

•If the tax is less than $27, calculate the discount by multiplying the tax by 2/3 (.6667)

•Enter $18 if tax is $27 to $3,600 and paid by the 12th, or $27 to $5,400 and paid by the 20th.

•If the tax is more than $3,600 and paid by the 12th,

calculate discount using this formula: (Tax x .6667 x .0075). The maximum discount is $20,000 for the tax period.

•If the tax is more than $5,400 and paid by the 20th,

calculate discount using this formula: (Tax x .6667 x .005). The maximum discount is $15,000 for the tax period.

Accelerated Filer

•If the tax is paid by the 12th, calculate discount using this formula: (Tax x .6667 x .0075).

•If the tax is paid by the 20th, calculate discount using this formula: (Tax x .6667 x .005).

PART 2: USE TAx On ITEMS PURChASED fOR BUSInESS OR PERSOnAl USE

Line 7: To determine your use tax due from purchases and withdrawals, multiply the total amount of your inventory value by 6% (0.06) and enter here.

PART 3: WIThhOlDIng TAx

Line 8: Enter the total Michigan income tax withheld for the tax period.

PART 4: TOTAl TAx/PAyMEnT DUE

Line 9: If amount is negative, this is the amount available for

future tax periods (skip lines 10-14).

Line 10: Enter any payments you submitted for this period, enter any payments for this period including any overpayments available from previous periods. If you are using an overpayment from a previous period only enter the amount needed to pay the total liability for this return. In the event an overpayment still exists declare it on the next return you file with a liability. (Liability minus overpayments/prior payment for this period must be greater than or equal to zero).

how to Compute Penalty and Interest

If your return is filed with additional tax due, include penalty and interest with your payment. Penalty is 5% of the tax due and increases by an additional 5% per month or fraction thereof, after the second month, to a maximum of 25%. Interest is charged daily using the average prime rate, plus 1 percent.

Refer to www.michigan.gov/taxes for current interest rate information or help in calculating late payment fees.

How to Edit Michigan Form 5092 Online for Free

Working with PDF forms online is definitely a piece of cake using our PDF editor. You can fill out michigan form 5092 here painlessly. FormsPal team is aimed at providing you the perfect experience with our tool by constantly introducing new capabilities and upgrades. With these improvements, using our tool gets better than ever! Getting underway is effortless! All that you should do is take the following easy steps down below:

Step 1: Simply hit the "Get Form Button" at the top of this page to start up our pdf form editor. Here you'll find all that is required to work with your document.

Step 2: The editor lets you work with PDF files in various ways. Change it by writing your own text, correct what is originally in the document, and place in a signature - all when you need it!

Filling out this PDF demands attention to detail. Ensure all required fields are filled in properly.

1. The michigan form 5092 necessitates particular information to be entered. Be sure the subsequent blanks are filled out:

Tips on how to complete michigan form 5092 2016 stage 1

2. Once the last section is complete, you'll want to insert the needed specifics in PART USE TAx On ITEMS PURChASED, Total amount of use tax from, PART WIThhOlDIng TAx, Total amount of Michigan income, PART TOTAl TAxPAyMEnT DUE, Amount of sales use and, Total amount applied for this, amount previously paid for this, Amount of tax due Subtract line, available for future tax periods, Penalty paid with this return for, Interest paid with this return, TOTAl PAyMEnT DUE Add lines and, TAxPAyER CERTIfICATIOn I declare, and Printed Name allowing you to move on to the 3rd stage.

michigan form 5092 2016 completion process shown (step 2)

It is easy to make a mistake while completing the Interest paid with this return, hence make sure you look again before you decide to finalize the form.

3. This next step is mostly about TAxPAyER CERTIfICATIOn I declare, Printed Name, Title, Date, Make check payable to State of, and Send your return and any payment - fill in all of these empty form fields.

A way to fill out michigan form 5092 2016 part 3

Step 3: Prior to getting to the next step, you should make sure that blanks have been filled in the right way. Once you confirm that it's fine, click “Done." Right after registering a7-day free trial account here, you'll be able to download michigan form 5092 or send it via email promptly. The file will also be accessible via your personal account page with your modifications. Here at FormsPal.com, we strive to be sure that all of your details are stored private.

Michigan Form 5092 isn’t the one you’re looking for?

Related Documents