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GROSS RECEIPTS 1. 2.) (minus) EXEMPTION (ex. Standard $5,000 or $9,000, Fishermen, EDC, lottery commissions, affordable housing, reverse osmosis, etc. 2. 3.) TAXABLE RECEIPTS (line 1 minus line 2) 3. 4.) TAX DUE (multiply line 3 by the tax rate of 0.045 or 4.5%) 4. 5.) UP FRONT GROSS RECEIPTS TAX WITHHELD 5. 6.) ADJUSTED TAX DUE (line 4 minus line 5) 6. 7.) PENALTY (if payment is late, multiply line 6 by .05 or 5% per month, but not to 7. exceed 25%) 8.) INTEREST (if payment is l.

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  • accrual
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  • insurers
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  • remit
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  • postmarked
  • osmosis
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