Form 7510 - Instructions For Preparing The Amusement Tax Return - City Of Chicago Page 3
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1
2
3B
B
ACCOUNT NUMBER
LINE
LINE
LINE
LINE 6.
LINE 7.
LINE 8.
3B.
3C.
4B.
4C.
5.
LINE 9.
LINE 10.
LINE 11.
11a.
Enter gross receipts less deductions (subtract line 2B from line 1B).
Enter gross receipts less deductions (subtract line 2C from line 1C).
Enter receipts subject to tax (dvide line 3B by 1.03).
Enter receipts subject to tax (civide line 3C by 1.07).
Preprinted tax rate.
Total tax due before credits. Mul~ply line 4b by line 5b. Multiply line 4c by line 5c. Add product column b to product column c.
Enter current year's estimated payments.
Enter credit for overpayment of tax only if 1 ) you have received a letter of credit from the Chicago Department of Revenue or
2) section 4-156-020(G) of the Amusement Tax Ordinance applies to reduce the tax due. Enter the letter of credit number
and submit the original applicable credit letter or the credit will be disallowed.
Total credit balance (add lines 7 and 8).
Total tax due. If line 10 is greater than 0, enter the amount owed. If line 10 is less than 0, skip to line 14.
Determine the amount of interest owed based on fee past due.
Enter number of days late (August 16 being one day late, etc.).
11 b.
Enter amount from line 10
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11c.
LINE 12.
LINE 13.
LINE 14
LINE ;
Total amount of interest (11 b * [11 a / 365]) * 12% .............................
EXAMPLE: If you determine that you owe $100,000 on the clue date (August 15) and you file and pay the tax on August 26, men
you are 11 days late in maidng the payment. The calculation of the interested owed is as follows: [$100,000 * (11/365)] * 12% =
$361.64)
Enter 5% of line 10 to compute penalty tax if tax is not paid when due. The tax is due on or before the 1 ~h day of the second
month following the fiscal year in which taxable receipts are received.
Enter the total tax, penalty and interest due.
:~verpayment. If line 10 is less man 0, enter the amount of overpayment.
you want the amount of the overpayment to be credited to next year's estimated tax, enter a check in 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.
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.
Page 3
7510023
B
Rev 007 0612
B
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