Form 7578 - Instructions For Preparing The Electricity Use Tax 2000
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Use these instructions for tax periods beginning January 1,2000.
INSTRUCTIONS FOR PREPARING THE
ACCOUNT NUMBER
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THE ELECTRICITY USE TAX
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7578
RESELLERS OF ELECTRICITY
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NOTE: YOU MUST ATTACH ALL SITE SCHEDULES TO THIS RETURN. THE TOTALS ON THE SITE SCHEDULES
MUST REPRESENT THE CURRENT TAX YEAR.
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LINE 1.
a.
Enter kilowatt-hours of electricity distributed to residential customers within
the corporate limits of the city ............................................................................
i ....... ii ........ ............... i ....................................... i ............ i ......... i ......................
b.
Enter kilowatt-hours of electricity used or consumed by the reseller ........................
c.
Enter kilowstt-houre written off as uncollectible on prior returns for which the
charges were subsequently collected .......................................................................
................................ ii ............................. i .......... ........... i .................................... i ...........
d.
LINE 2.
LINE 3.
LINE 4.
Total kilowatt-hours (add lines l a through lc)
NOTE 1: When a reseller distributes electricity to residential and nonresidential tenants who occupy the same building, nonresidential
tenants, for filing purposes, should be treated as residential and total kilowatt-hours of electricity distributed to them should be reported
on this return.
Kilowatt-hours for charges which are written off as uncollectible.
Subtract line 2 from line 1. This number represents total kilowatt-hours subject to Electricity Use Tax.
A - J. Allocate kilowatt-hours from line 3 to all applicable categories listed. Multiply kilowatt hours allocated to each category
by applicable tax rate. Note that more than one tax rate may apply (Section 3-53-020).
NOTE 2: The appropriate tax rate should be applied to the sum of kilowatt-hours allocated to each category by applicable tax rate.
LINE 5.
LINE 6.
LINE 7.
LINE 8.
LINE 9.
LINE 10.
10a.
Add line 4a through 4j. This is your Electricity Use Tax due before credits.
Enter the total amount of all the current year's tax payments you have remitted to the department.
Enter credit for overpayment of tax only if you have received a letter of credit from the Chicago Department of Revenue. Enter the
letter of credit number or agreement date in the bracketed area provided. You must submit a copy of the applicable credit letter, or
the first page of the agreement, or the credit will be disallowed.
Enter total credit balance (add lines 6 and 7).
Enter total tax due (subtract line 8 from line 5). If line 9 is greater than 0, enter the amount owed. If line 9 is less than 0, skip to line 13.
Determine the amount of interest owed based on tax past due.
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Enter number of days late (August 16 being one day late, etc.) . . . . . . . . . . . . . . . . . . . . . . . . . .
10b. Enter the amount from line 9 ..............................................................................
10c.
LINE 11,
LINE 12.
LINE 13.
LINE 14.
Total amount of interest (10b * [10a / 365]) * 12%
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EXAMPLE: If you determine that you owe $100,000 on the due date (August 15) and you file and pay the tax on August 26, then you
are 11 days late in making the payment. The calculation of the interested owed is as follows: [$100,000 * (11/365)] * 12% = $361.64.
Enter 5% of line 9 to compute penalty if tax is not paid when due. The tax is due on or before the 15th day of the second month following
the fiscal year in which taxable receipts are received.
Enter the total tax, penalty and interest due (add lines 9, 10, and 11 ).
Overpayment. If line 9 is less than 0, enter the amount of overpayment.
If you want the amount of the overpayment to be credited to next year's estimated tax, check the credit box. Otherwise, check the refund box.
Note: Any amounts overpaid will first be applied to deficiencies outstanding for this tax and to deficiencies for
any other City of Chicago tax for which you are registered.
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FOR ADDITIONAL INFORMATION CALL 312-747~9723 (TTY 312-744-2975)
NOTE: YOU MUST COMPLETE ALL INFORMATION ON THIS PAGE FOR THIS RETURN TO BE CONSIDERED COMPLETE.
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7578021
Rev 005 0614
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