Do you want to know more about Form ST 556? If so, then this blog post is for you. Form ST-556 is an excise tax form used by small businesses in New Hampshire to calculate and pay the New Hampshire Business Profits Tax. The purpose of this blog post is to explain what Form ST-556 entails, who must file it, how much tax needs to be paid on the return, and when it must be filed. This guide will provide valuable insight for business owners and help them better understand their filing obligations with respect to the NH Business Profits Tax. So let’s dive into all there is to know about Form ST-556!
|Form Name||St 556 Form|
|Form Length||2 pages|
|Avg. time to fill out||30 sec|
|Other names||printable st 556 form, st 556 pdf, st556 form, st 556 form no download needed|
Illinois Department of Revenue
Who must ﬁle Form
If you are an
Note: Under Illinois law, lessors selling
Must I keep forms that are void?
Yes. Write “Void” across the form; keep it with your records for 42 months in case of an audit. Do not send any part of the form to us.
How do I obtain forms and get help?
You can also obtain related forms, which are not preprinted, by
•visiting our web site at tax.illinois.gov
ILLINOIS DEPARTMENT OF REVENUE PO BOX 19010
You can get help by
•visiting our web site at tax.illinois.gov
•calling our Taxpayer Assistance Division at 1 800
•calling our TDD (telecommunications device for the deaf) at
ILLINOIS DEPARTMENT OF REVENUE PO BOX 19015
1 Write the buyer’s name and address
The buyer’s name and address must be the same as the name that will be written on the application for title or registration. If there is more than one buyer, be sure to write each name.
2 Describe the item sold
Note: If you sold more than one type of item — a watercraft and a trailer, for example — or more than one item of the same type — three motor vehicles, for example — you must generally complete a separate Form
Check the correct box
Check the box marked “used” to show that you are selling an item that has previously been titled.
Next, write the appropriate identiﬁcation number for the item sold, such as a vehicle identiﬁcation number (V.I.N.) for vehicles, trailers, and mobile homes, a hull identiﬁcation number (HIN.) for watercraft, or (N) number for aircraft.
Finally, write the year, make, body style, and model of the item sold.
3 Write the date of delivery
Write the month, day, and year in which the buyer took possession of the item. If the buyer has been leasing the item and, therefore, already has possession of it, write the date you applied for a change in the title.
Note: This return is due no later than 20 days after the date of delivery.
4 Describe the
If you did not claim a qualiﬁed
If you claimed a qualiﬁed
What is a qualiﬁed
•that the buyer gives you to reduce the selling price (in part or in full) of the item sold;
•that you are allowed to subtract from the total price; and
•that you are in the business of selling.
You are “in the business of selling” a particular kind of item if you hold yourself out to the public as being engaged in (or habitually engage in) selling such items.
You may claim the
However, you may not claim the
If the sale is taxable, skip this section and go to Section 6.
If the sale is exempt, check the correct box
If you are not required to submit title or registration paperwork on the item, send the return directly to us at Illinois Department of Revenue, Retailers’ Occupation Tax, P.O. Box 19042, Springﬁeld, IL
A.Sold to a nonresident buyer (NOT an
Do not check this box. Because all the sales you report will be to Illinois buyers, this exemption cannot apply to any of your sales.
B.Sold for resale to a DEALER
Check this box if you sold the item to an Illinois dealer for resale. Write the Illinois account ID number and the license number of the dealer to whom you sold the item. If you sold to an Illinois dealer as junk or salvage or for parts, write “Junked,” “Salvage,” or “Parts Only” after the account ID number. Keep a completed Form
C. Sold to an exempt organization
Check this box if you sold the item to one of the following
•a government agency
•a religious organization
•a charitable organization
In the space provided, write the organization’s active Illinois Sales Tax exemption “E” number. To qualify, the buyer must be the organization itself rather than a member or ofﬁcer of the organization. The item must be titled and/or registered in the organization’s name and paid for with the organization’s funds. The organization’s exemption number must have been in effect on the day you made the sale.
Note: In addition, you may check this box if
•the motor vehicle purchase is speciﬁcally for the purpose of donating it to an exempt organization that the department has determined is organized and operated exclusively for educational purposes. In the space provided, write the active Illinois Sales Tax exemption “E” number of the educational organization to which the vehicle is being donated, or
•the purchase is made by a lessor who will lease it to a government organization. In the space provided, write the active Illinois Sales Tax exemption “E” number of the government organization.
D.Sold to an interstate carrier for hire for use as rolling stock Check this box if you sold an item for use as rolling stock to haul persons or commodities for hire in interstate commerce. In the space provided, write the certiﬁcate of authority number. Keep a properly completed Form
E.Sold for rental use
Check this box if
•you sold the vehicle to an Illinois business that is registered to collect Automobile Renting Tax and
•the buyer will use the vehicle for rental purposes in rental agreements of one year or less.
Write the buyer’s Illinois account ID number.
Check this box if the sale is exempt for a reason not identiﬁed in boxes A - E.
For example: You sold the item to a foreign consul who has a card from the U.S. Department of State declaring that the foreign consul does not have to pay sales tax on that item. In the space provided, write “Foreign Consul.”
6 Write the price and ﬁgure the tax
Note: When completing this form, please round to the nearest dollar by dropping amounts of less than 50 cents and increasing amounts of 50 cents or more to the next higher dollar.
Line 1 Write the total price, including accessories, federal excise taxes, freight and labor, dealer preparation, documentary fees, and any rebates or incentives for which you as a dealer receive reimbursement. Do not subtract the value of any rebate made directly to the customer. In general, any cost passed on to the customer as part of the sale of an item and for which gross receipts are received should be included in the total price.
Line 2 If you claimed a qualiﬁed
If you completed Section 5, skip to “Sign the return.” Otherwise, continue reading.
Line 3 Subtract Line 2 from Line 1.
Line 4 Multiply Line 3 by your buyer’s tax rate. To ﬁnd the buyer’s tax rate,
•visit our web site at tax.illinois.gov, or
•call us at 1 800
Also, write the tax rate in the correct space on the form.
a. Write the name of the Illinois county in which the buyer’s address is located.
b. Is the buyer’s address within the limits of an Illinois city or village? If so, write the name of the city or village.
c. Is the buyer’s address within Madison or St. Clair County? If so, write the name of the township in which the address is located.
Do not write a dollar amount on this line. Line 6 Write the amount from Line 4.
Line 7 If you are ﬁling this return within 20 days of the date you wrote in Section 3, multiply Line 6 by the rate printed on your return.
We are responsible for collecting and administering the fee on vehicles imposed by the
•If the result is less than $20, write the result on Line 7a.
•If the result is $20 or more, write $20 on Line 7a.
Line 8 Subtract Line 7 from Line 6. If you wrote an amount on
Line 7a (preprinted), subtract Line 7 from Line 6 then add the amount on Line 7a.
Line 9 If we have notiﬁed you that you have an overpayment credit on your account, you may use this overpayment credit to pay some or all of the tax due on this return. Write the amount you wish to use.
Line 10 In order for us to allow a credit amount that you write on this line, you must meet the requirements described in items 1 through 3 below.
Requirements to claim credit for a previously leased item
1.Use tax was paid either to an Illinois retailer on Form
2.The amount of credit you take on this line is equal to or less than the amount of tax due on the
3.On the tax return number line, you have written the correct tax return number either from the
Line 11 If you collected more tax than is due on this sale, write the amount you overcollected.
Line 12 Line 8 minus Line 9 minus Line 10 plus Line 11.
Line 13 If you have a credit memorandum and you wish to use it towards what you owe, write the amount you are using on Line 13.
Line 14 Subtract Line 13 from Line 12, and write the amount due. Also, write the number of the remittance you are sending to pay the tax due on this return. If you are ﬁling more than one Form
Sign the return
Both the seller and all buyers must sign the return.
If you claimed a qualiﬁed