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2012 1040a Tax Form

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2012 1040a Tax Form

2012 1040a tax form 6. 2012 1040a tax form   Tax Treaty Benefits Table of Contents Topics - This chapter discusses: Useful Items - You may want to see: Purpose of Tax Treaties Common Benefits Competent Authority AssistanceAdditional filing. 2012 1040a tax form Obtaining Copies of Tax Treaties Topics - This chapter discusses: Some common tax treaty benefits, How to get help in certain situations, and How to get copies of tax treaties. 2012 1040a tax form Useful Items - You may want to see: Publication 597 Information on the United States—Canada Income Tax Treaty 901 U. 2012 1040a tax form S. 2012 1040a tax form Tax Treaties See chapter 7 for information about getting these publications. 2012 1040a tax form Purpose of Tax Treaties The United States has tax treaties or conventions with many countries. 2012 1040a tax form See Table 6-1 at the end of this chapter for a list of these countries. 2012 1040a tax form Under these treaties and conventions, citizens and residents of the United States who are subject to taxes imposed by the foreign countries are entitled to certain credits, deductions, exemptions, and reductions in the rate of taxes of those foreign countries. 2012 1040a tax form If a foreign country with which the United States has a treaty imposes a tax on you, you may be entitled to benefits under the treaty. 2012 1040a tax form Treaty benefits generally are available to residents of the United States. 2012 1040a tax form They generally are not available to U. 2012 1040a tax form S. 2012 1040a tax form citizens who do not reside in the United States. 2012 1040a tax form However, certain treaty benefits and safeguards, such as the nondiscrimination provisions, are available to U. 2012 1040a tax form S. 2012 1040a tax form citizens residing in the treaty countries. 2012 1040a tax form U. 2012 1040a tax form S. 2012 1040a tax form citizens residing in a foreign country also may be entitled to benefits under that country's tax treaties with third countries. 2012 1040a tax form Certification of U. 2012 1040a tax form S. 2012 1040a tax form residency. 2012 1040a tax form   Use Form 8802, Application for United States Residency Certification, to request certification of U. 2012 1040a tax form S. 2012 1040a tax form residency for purposes of claiming benefits under a tax treaty. 2012 1040a tax form Certification can be requested for the current and any prior calendar years. 2012 1040a tax form You should examine the specific treaty articles to find if you are entitled to a tax credit, tax exemption, reduced rate of tax, or other treaty benefit or safeguard. 2012 1040a tax form Common Benefits Some common tax treaty benefits are explained below. 2012 1040a tax form The credits, deductions, exemptions, reductions in rate, and other benefits provided by tax treaties are subject to conditions and various restrictions. 2012 1040a tax form Benefits provided by certain treaties are not provided by others. 2012 1040a tax form Personal service income. 2012 1040a tax form If you are a U. 2012 1040a tax form S. 2012 1040a tax form resident who is in a treaty country for a limited number of days in the tax year and you meet certain other requirements, the payment you receive for personal services performed in that country may be exempt from that country's income tax. 2012 1040a tax form Professors and teachers. 2012 1040a tax form If you are a U. 2012 1040a tax form S. 2012 1040a tax form resident, the payment you receive for the first 2 or 3 years that you are teaching or doing research in a treaty country may be exempt from that country's income tax. 2012 1040a tax form Students, trainees, and apprentices. 2012 1040a tax form If you are a U. 2012 1040a tax form S. 2012 1040a tax form resident, amounts you receive from the United States for study, research, or business, professional and technical training may be exempt from a treaty country's income tax. 2012 1040a tax form Some treaties exempt grants, allowances, and awards received from governmental and certain nonprofit organizations. 2012 1040a tax form Also, under certain circumstances, a limited amount of pay received by students, trainees, and apprentices may be exempt from the income tax of many treaty countries. 2012 1040a tax form Pensions and annuities. 2012 1040a tax form If you are a U. 2012 1040a tax form S. 2012 1040a tax form resident, nongovernment pensions and annuities you receive may be exempt from the income tax of treaty countries. 2012 1040a tax form Most treaties contain separate provisions for exempting government pensions and annuities from treaty country income tax, and some treaties provide exemption from the treaty country's income tax for social security payments. 2012 1040a tax form Investment income. 2012 1040a tax form If you are a U. 2012 1040a tax form S. 2012 1040a tax form resident, investment income, such as interest and dividends, that you receive from sources in a treaty country may be exempt from that country's income tax or taxed at a reduced rate. 2012 1040a tax form Several treaties provide exemption for capital gains (other than from sales of real property in most cases) if specified requirements are met. 2012 1040a tax form Tax credit provisions. 2012 1040a tax form If you are a U. 2012 1040a tax form S. 2012 1040a tax form resident who receives income from or owns capital in a foreign country, you may be taxed on that income or capital by both the United States and the treaty country. 2012 1040a tax form Most treaties allow you to take a credit against or deduction from the treaty country's taxes based on the U. 2012 1040a tax form S. 2012 1040a tax form tax on the income. 2012 1040a tax form Nondiscrimination provisions. 2012 1040a tax form Most U. 2012 1040a tax form S. 2012 1040a tax form tax treaties provide that the treaty country cannot discriminate by imposing more burdensome taxes on U. 2012 1040a tax form S. 2012 1040a tax form citizens who are residents of the treaty country than it imposes on its own citizens in the same circumstances. 2012 1040a tax form Saving clauses. 2012 1040a tax form U. 2012 1040a tax form S. 2012 1040a tax form treaties contain saving clauses that provide that the treaties do not affect the U. 2012 1040a tax form S. 2012 1040a tax form taxation of its own citizens and residents. 2012 1040a tax form As a result, U. 2012 1040a tax form S. 2012 1040a tax form citizens and residents generally cannot use the treaty to reduce their U. 2012 1040a tax form S. 2012 1040a tax form tax liability. 2012 1040a tax form However, most treaties provide exceptions to saving clauses that allow certain provisions of the treaty to be claimed by U. 2012 1040a tax form S. 2012 1040a tax form citizens or residents. 2012 1040a tax form It is important that you examine the applicable saving clause to determine if an exception applies. 2012 1040a tax form More information on treaties. 2012 1040a tax form   Publication 901 contains an explanation of treaty provisions that apply to amounts received by teachers, students, workers, and government employees and pensioners who are alien nonresidents or residents of the United States. 2012 1040a tax form Since treaty provisions generally are reciprocal, you usually can substitute “United States” for the name of the treaty country whenever it appears, and vice versa when “U. 2012 1040a tax form S. 2012 1040a tax form ” appears in the treaty exemption discussions in Publication 901. 2012 1040a tax form   Publication 597 contains an explanation of a number of frequently-used provisions of the United States–Canada income tax treaty. 2012 1040a tax form Competent Authority Assistance If you are a U. 2012 1040a tax form S. 2012 1040a tax form citizen or resident alien, you can request assistance from the U. 2012 1040a tax form S. 2012 1040a tax form competent authority if you think that the actions of the United States, a treaty country, or both, cause or will cause a tax situation not intended by the treaty between the two countries. 2012 1040a tax form You should read any treaty articles, including the mutual agreement procedure article, that apply in your situation. 2012 1040a tax form The U. 2012 1040a tax form S. 2012 1040a tax form competent authority cannot consider requests involving countries with which the United States does not have a tax treaty. 2012 1040a tax form Effect of request for assistance. 2012 1040a tax form   If your request provides a basis for competent authority assistance, the U. 2012 1040a tax form S. 2012 1040a tax form competent authority generally will consult with the treaty country competent authority on how to resolve the situation. 2012 1040a tax form How to make your request. 2012 1040a tax form   It is important that you make your request for competent authority consideration as soon as either of the following occurs. 2012 1040a tax form You are denied treaty benefits. 2012 1040a tax form Actions taken by both the United States and the foreign country result in double taxation or will result in taxation not intended by the treaty. 2012 1040a tax form   In addition to making a request for assistance, you should take steps so that any agreement reached by the competent authorities is not barred by administrative, legal, or procedural barriers. 2012 1040a tax form Some of the steps you should consider taking include the following. 2012 1040a tax form Filing a protective claim for credit or refund of U. 2012 1040a tax form S. 2012 1040a tax form taxes. 2012 1040a tax form Delaying the expiration of any period of limitations on the making of a refund or other tax adjustment. 2012 1040a tax form Avoiding the lapse or termination of your right to appeal any tax determination. 2012 1040a tax form Complying with all applicable procedures for invoking competent authority consideration. 2012 1040a tax form Contesting an adjustment or seeking an appropriate correlative adjustment with respect to the U. 2012 1040a tax form S. 2012 1040a tax form or treaty country tax. 2012 1040a tax form Taxpayers can consult with the U. 2012 1040a tax form S. 2012 1040a tax form competent authority to determine whether they need to take protective steps and when any required steps need to be taken. 2012 1040a tax form   The request should contain all essential items of information, including the following items. 2012 1040a tax form A reference to the treaty and the treaty provisions on which the request is based. 2012 1040a tax form The years and amounts involved in both U. 2012 1040a tax form S. 2012 1040a tax form dollars and foreign currency. 2012 1040a tax form A brief description of the issues for which competent authority assistance is requested. 2012 1040a tax form   A complete listing of the information that must be included with the request can be found in Revenue Procedure 2006-54, or its successor. 2012 1040a tax form Revenue Procedure 2006-54 is available at www. 2012 1040a tax form irs. 2012 1040a tax form gov/irb/2006-49_IRB/ar13. 2012 1040a tax form html. 2012 1040a tax form   Also, see Notice 2013-78, which provides proposed updates to the procedures for requesting U. 2012 1040a tax form S. 2012 1040a tax form competent authority assistance under tax treaties. 2012 1040a tax form As noted, Revenue Procedure 2006-54 will be superseded by a revenue procedure to be published in the future. 2012 1040a tax form    Your request for competent authority consideration should be addressed to:   Deputy Commissioner (International) Large Business and International Division Internal Revenue Service 1111 Constitution Avenue, NW Routing M4-365 Washington, DC 20224 Attn: TAIT Additional filing. 2012 1040a tax form   In the case of U. 2012 1040a tax form S. 2012 1040a tax form - initiated adjustments, you also must file a copy of the request with the IRS office where your case is pending. 2012 1040a tax form If the request is filed after the matter has been designated for litigation or while a suit contesting your relevant tax liability is pending in a United States court, a copy of the request, with a separate statement attached identifying the court where the suit is pending and the docket number of the action, also must be filed with the: Office of Associate Chief Counsel (International) Internal Revenue Service 1111 Constitution Avenue, NW Washington, DC 20224 Additional details on the procedures for requesting competent authority assistance are included in Revenue Procedure 2006-54, or its successor. 2012 1040a tax form Obtaining Copies of Tax Treaties Table 6-1 lists those countries with which the United States has income tax treaties. 2012 1040a tax form This table is updated through October 31, 2013. 2012 1040a tax form You can get complete information about treaty provisions from the taxing authority in the country from which you receive income or from the treaty itself. 2012 1040a tax form You can obtain the text of most U. 2012 1040a tax form S. 2012 1040a tax form treaties at IRS. 2012 1040a tax form gov. 2012 1040a tax form You also can request the text of treaties from the Department of Treasury at the following address. 2012 1040a tax form Department of Treasury Office of Business and Public Liaison Rm. 2012 1040a tax form 3411 1500 Pennsylvania Avenue, NW  Washington, DC 20220 If you have questions about a treaty and you are in the United States, Puerto Rico, or the U. 2012 1040a tax form S. 2012 1040a tax form Virgin Islands, you can call the IRS at 1-800-829-1040. 2012 1040a tax form Table 6–1. 2012 1040a tax form List of Tax Treaties (Updated through October 31, 2013) Country Official Text  Symbol1 General  Effective Date Citation Applicable Treasury Explanations  or Treasury Decision (T. 2012 1040a tax form D. 2012 1040a tax form ) Australia TIAS 10773 Dec. 2012 1040a tax form 1, 1983 1986-2 C. 2012 1040a tax form B. 2012 1040a tax form 220 1986-2 C. 2012 1040a tax form B. 2012 1040a tax form 246 Protocol TIAS Jan. 2012 1040a tax form 1, 2004     Austria TIAS Jan. 2012 1040a tax form 1, 1999     Bangladesh TIAS Jan. 2012 1040a tax form 1, 2007     Barbados TIAS 11090 Jan. 2012 1040a tax form 1, 1984 1991-2 C. 2012 1040a tax form B. 2012 1040a tax form 436 1991-2 C. 2012 1040a tax form B. 2012 1040a tax form 466 Protocol TIAS Jan. 2012 1040a tax form 1, 2005     Belgium TIAS Jan. 2012 1040a tax form 1, 2008     Bulgaria TIAS Jan. 2012 1040a tax form 1, 2009     Canada2 TIAS 11087 Jan. 2012 1040a tax form 1, 1985 1986-2 C. 2012 1040a tax form B. 2012 1040a tax form 258 1987-2 C. 2012 1040a tax form B. 2012 1040a tax form 298 Protocol TIAS Jan. 2012 1040a tax form 1, 2009     China, People's Republic of TIAS 12065 Jan. 2012 1040a tax form 1, 1987 1988-1 C. 2012 1040a tax form B. 2012 1040a tax form 414 1988-1 C. 2012 1040a tax form B. 2012 1040a tax form 447 Commonwealth of Independent States3 TIAS 8225 Jan. 2012 1040a tax form 1, 1976 1976-2 C. 2012 1040a tax form B. 2012 1040a tax form 463 1976-2 C. 2012 1040a tax form B. 2012 1040a tax form 475 Cyprus TIAS 10965 Jan. 2012 1040a tax form 1, 1986 1989-2 C. 2012 1040a tax form B. 2012 1040a tax form 280 1989-2 C. 2012 1040a tax form B. 2012 1040a tax form 314 Czech Republic TIAS Jan. 2012 1040a tax form 1, 1993     Denmark TIAS Jan. 2012 1040a tax form 1, 2001     Protocol TIAS Jan. 2012 1040a tax form 1, 2008     Egypt TIAS 10149 Jan. 2012 1040a tax form 1, 1982 1982-1 C. 2012 1040a tax form B. 2012 1040a tax form 219 1982-1 C. 2012 1040a tax form B. 2012 1040a tax form 243 Estonia TIAS Jan. 2012 1040a tax form 1, 2000     Finland TIAS 12101 Jan. 2012 1040a tax form 1, 1991     Protocol TIAS Jan. 2012 1040a tax form 1, 2008     France TIAS Jan. 2012 1040a tax form 1, 1996     Protocol TIAS Jan. 2012 1040a tax form 1, 2009     Germany TIAS Jan. 2012 1040a tax form 1, 1990     Protocol TIAS Jan. 2012 1040a tax form 1, 2008     Greece TIAS 2902 Jan. 2012 1040a tax form 1, 1953 1958-2 C. 2012 1040a tax form B. 2012 1040a tax form 1054 T. 2012 1040a tax form D. 2012 1040a tax form 6109, 1954-2 C. 2012 1040a tax form B. 2012 1040a tax form 638 Hungary TIAS 9560 Jan. 2012 1040a tax form 1, 1980 1980-1 C. 2012 1040a tax form B. 2012 1040a tax form 333 1980-1 C. 2012 1040a tax form B. 2012 1040a tax form 354 Iceland TIAS 8151 Jan. 2012 1040a tax form 1, 2009     India TIAS Jan. 2012 1040a tax form 1, 1991     Indonesia TIAS 11593 Jan. 2012 1040a tax form 1, 1990     Ireland TIAS Jan. 2012 1040a tax form 1, 1998     Israel TIAS Jan. 2012 1040a tax form 1, 1995     Italy TIAS Jan. 2012 1040a tax form 1, 2010     Jamaica TIAS 10207 Jan. 2012 1040a tax form 1, 1982 1982-1 C. 2012 1040a tax form B. 2012 1040a tax form 257 1982-1 C. 2012 1040a tax form B. 2012 1040a tax form 291 Japan TIAS Jan. 2012 1040a tax form 1, 2005     Kazakhstan TIAS Jan. 2012 1040a tax form 1, 1996     Korea, South TIAS 9506 Jan. 2012 1040a tax form 1, 1980 1979-2 C. 2012 1040a tax form B. 2012 1040a tax form 435 1979-2 C. 2012 1040a tax form B. 2012 1040a tax form 458 Latvia TIAS Jan. 2012 1040a tax form 1, 2000     Lithuania TIAS Jan. 2012 1040a tax form 1, 2000     Luxembourg TIAS Jan. 2012 1040a tax form 1, 2001     Malta TIAS Jan. 2012 1040a tax form 1, 2011     Mexico TIAS Jan. 2012 1040a tax form 1,1994     Protocol TIAS Jan. 2012 1040a tax form 1, 2004               Table 6–1 (continued). 2012 1040a tax form Country Official Text  Symbol1 General  Effective Date Citation Applicable Treasury Explanations  or Treasury Decision (T. 2012 1040a tax form D. 2012 1040a tax form ) Morocco TIAS 10195 Jan. 2012 1040a tax form 1, 1981 1982-2 C. 2012 1040a tax form B. 2012 1040a tax form 405 1982-2 C. 2012 1040a tax form B. 2012 1040a tax form 427 Netherlands TIAS Jan. 2012 1040a tax form 1, 1994     Protocol TIAS Jan. 2012 1040a tax form 1, 2005     New Zealand TIAS 10772 Nov. 2012 1040a tax form 2, 1983 1990-2 C. 2012 1040a tax form B. 2012 1040a tax form 274 1990-2 C. 2012 1040a tax form B. 2012 1040a tax form 303 Protocol TIAS Jan. 2012 1040a tax form 1, 2011     Norway TIAS 7474 Jan. 2012 1040a tax form 1, 1971 1973-1 C. 2012 1040a tax form B. 2012 1040a tax form 669 1973-1 C. 2012 1040a tax form B. 2012 1040a tax form 693 Protocol TIAS 10205 Jan. 2012 1040a tax form 1, 1982 1982-2 C. 2012 1040a tax form B. 2012 1040a tax form 440 1982-2 C. 2012 1040a tax form B. 2012 1040a tax form 454 Pakistan TIAS 4232 Jan. 2012 1040a tax form 1, 1959 1960-2 C. 2012 1040a tax form B. 2012 1040a tax form 646 T. 2012 1040a tax form D. 2012 1040a tax form 6431, 1960-1 C. 2012 1040a tax form B. 2012 1040a tax form 755 Philippines TIAS 10417 Jan. 2012 1040a tax form 1, 1983 1984-2 C. 2012 1040a tax form B. 2012 1040a tax form 384 1984-2 C. 2012 1040a tax form B. 2012 1040a tax form 412 Poland TIAS 8486 Jan. 2012 1040a tax form 1, 1974 1977-1 C. 2012 1040a tax form B. 2012 1040a tax form 416 1977-1 C. 2012 1040a tax form B. 2012 1040a tax form 427 Portugal TIAS Jan. 2012 1040a tax form 1, 1996     Romania TIAS 8228 Jan. 2012 1040a tax form 1, 1974 1976-2 C. 2012 1040a tax form B. 2012 1040a tax form 492 1976-2 C. 2012 1040a tax form B. 2012 1040a tax form 504 Russia TIAS Jan. 2012 1040a tax form 1, 1994     Slovak Republic TIAS Jan. 2012 1040a tax form 1, 1993     Slovenia TIAS Jan. 2012 1040a tax form 1, 2002     South Africa TIAS Jan. 2012 1040a tax form 1, 1998     Spain TIAS Jan. 2012 1040a tax form 1, 1991     Sri Lanka TIAS Jan. 2012 1040a tax form 1, 2004     Sweden TIAS Jan. 2012 1040a tax form 1, 1996     Protocol TIAS Jan. 2012 1040a tax form 1, 2007     Switzerland TIAS Jan. 2012 1040a tax form 1, 1998     Thailand TIAS Jan. 2012 1040a tax form 1, 1998     Trinidad and Tobago TIAS 7047 Jan. 2012 1040a tax form 1, 1970 1971-2 C. 2012 1040a tax form B. 2012 1040a tax form 479   Tunisia TIAS Jan. 2012 1040a tax form 1, 1990     Turkey TIAS Jan. 2012 1040a tax form 1, 1998     Ukraine TIAS Jan. 2012 1040a tax form 1, 2001     United Kingdom TIAS Jan. 2012 1040a tax form 1, 2004     Venezuela TIAS Jan. 2012 1040a tax form 1, 2000      1(TIAS) — Treaties and Other International Act Series. 2012 1040a tax form  2Information on the treaty can be found in Publication 597, Information on the United States—Canada Income Tax Treaty. 2012 1040a tax form 3The U. 2012 1040a tax form S. 2012 1040a tax form -U. 2012 1040a tax form S. 2012 1040a tax form S. 2012 1040a tax form R. 2012 1040a tax form income tax treaty applies to the countries of Armenia, Azerbaijan, Belarus, Georgia, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, and Uzbekistan. 2012 1040a tax form Prev  Up  Next   Home   More Online Publications
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SOI Tax Stats - S Corporation Statistics

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Certain corporations elect to be treated as S corporations for Federal tax purposes. Electing to be treated as an S corporation allows income to flow through the corporation without being taxed until it is claimed as income by the shareholders. This avoids double taxation of corporate income. Here you will find data tables and SOI Bulletin articles concerning 1120S corporations.

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Integrated Business Data: Tables and articles that combine the annual SOI cross-sectional studies of corporation (C and S corporations), partnership, and nonfarm sole proprietorship data.

S Corporation Returns
Article by Kelly Luttrel, SOI
S corporations continue to be the most prevalent type of corporation. For Tax Year 2003, about 61.9 percent of all corporations filed a Form 1120S. The total number of returns filed by S corporations for Tax Year 2003 increased 5.9 percent to nearly 3.3 million, from nearly 3.2 million reported in Tax Year 2002. S corporations became the most common corporate entity type in 1997.

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The following are available as Microsoft Excel® files. A free Excel viewer is available for download, if needed.

Table 1: Returns of Active Corporations, Form 1120S
Data Presented: Total receipts and deductions, portfolio income, rental income, and total net income
Classified By:

Major industry


Table 2: Returns with Net Income, Form 1120S

Data Presented: Total receipts and deductions, portfolio income, rental income, and total net income
Classified By: Major industry

Table 3: Returns of Active Corporations, Form 1120S
Data Presented: Balance sheet items
Classified By: Major industry
  Note: Table 7 is presented in lieu of Table 3; Table 7 provides both balance sheet and income statement items

Table 4: Returns of Active Corporations, Form 1120S
Data Presented: Total receipts and deductions, portfolio income, rental income, and total net income
Classified By: Size of business receipts and industrial sector

Table 5: Returns of Active Corporations, Form 1120S
Data Presented: Rental real estate income.
Classified By: Selected industrial sector and major industry

Table 6: Returns of Active Corporations, Form 1120S
Data Presented: Total receipts and deductions, portfolio income, rental income, and total net income
Classified By: Number of shareholders

Table 7: Returns of Active Corporations, Form 1120S
Data Presented: Balance sheet and income statement items
Classified By: Major industry

Table 8: Returns With Net Income from a Trade or Business, Form 1120S
Data Presented: Balance sheet and income statement items

 Classified By:

Major industry


S Corporations, Selected Figures

Figures:

 


Figure A: S Corporation Total Net Income (Less Deficit)

Tax Years: 2007  2006  2005  2004


Figure B: Number of Form 1120 Series Returns, by Type of Corporation

Tax Years: 2007  2006  2005  2004


Figure C: S Corporation Annual Percentage Increase/Decrease

Tax Years:             2006  2005  2004
  Note: Figure C will no longer be produced. An alternative calculation is being evaluated and results will be posted as the review process dictates.


Figure D: S Corporation Total Assets, Receipts, Net Income, by Industrial Sector

Tax Years: 2007  2006  2005  2004


Figure E: Shares of S Corporation Total Receipts, by Industrial Sector

Tax Years: 2007  2006  2005  2004


Figure F: Shares of S Corporation Total Assets, by Industrial Sector

Tax Years: 2007  2006  2005  2004


Figure G: S Corporation Number of Returns, by Number of Shareholders and Industrial Sector

Tax Years: 2007  2006  2005  2004


Figure H: S Corporation Taxes

Tax Years: 2007  2006  2005  2004

 

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Page Last Reviewed or Updated: 22-Jan-2013

The 2012 1040a Tax Form

2012 1040a tax form 6. 2012 1040a tax form   Retail Tax on Heavy Trucks, Trailers, and Tractors Table of Contents Highway vehicle. 2012 1040a tax form Vehicles not considered highway vehicles. 2012 1040a tax form Idling reduction device. 2012 1040a tax form Separate purchase. 2012 1040a tax form Leases. 2012 1040a tax form Exported vehicle. 2012 1040a tax form Tax on resale of tax-paid trailers and semitrailers. 2012 1040a tax form Use treated as sale. 2012 1040a tax form Sale. 2012 1040a tax form Long-term lease. 2012 1040a tax form Short-term lease. 2012 1040a tax form Related person. 2012 1040a tax form Exclusions from tax base. 2012 1040a tax form Sales not at arm's length. 2012 1040a tax form Installment sales. 2012 1040a tax form Repairs and modifications. 2012 1040a tax form Further manufacture. 2012 1040a tax form Rail trailers and rail vans. 2012 1040a tax form Parts and accessories. 2012 1040a tax form Trash containers. 2012 1040a tax form House trailers. 2012 1040a tax form Camper coaches or bodies for self-propelled mobile homes. 2012 1040a tax form Farm feed, seed, and fertilizer equipment. 2012 1040a tax form Ambulances and hearses. 2012 1040a tax form Truck-tractors. 2012 1040a tax form Concrete mixers. 2012 1040a tax form Registration requirement. 2012 1040a tax form Further manufacture. 2012 1040a tax form A tax of 12% of the sales price is imposed on the first retail sale of the following articles, including related parts and accessories sold on or in connection with, or with the sale of, the articles. 2012 1040a tax form Truck chassis and bodies. 2012 1040a tax form Truck trailer and semitrailer chassis and bodies. 2012 1040a tax form Tractors of the kind chiefly used for highway transportation in combination with a trailer or semitrailer. 2012 1040a tax form A truck is a highway vehicle primarily designed to transport its load on the same chassis as the engine, even if it is equipped to tow a vehicle, such as a trailer or semitrailer. 2012 1040a tax form A tractor is a highway vehicle designed to tow a vehicle, such as a trailer or semitrailer. 2012 1040a tax form A tractor may carry incidental items of cargo when towing or limited amounts of cargo when not towing. 2012 1040a tax form A sale of a truck, truck trailer, or semitrailer is considered a sale of a chassis and a body. 2012 1040a tax form The seller is liable for the tax. 2012 1040a tax form Chassis or body. 2012 1040a tax form   A chassis or body is taxable only if you sell it for use as a component part of a highway vehicle that is a truck, truck trailer or semitrailer, or a tractor of the kind chiefly used for highway transportation in combination with a trailer or semitrailer. 2012 1040a tax form Highway vehicle. 2012 1040a tax form   A highway vehicle is any self-propelled vehicle designed to carry a load over public highways, whether or not it is also designed to perform other functions. 2012 1040a tax form Examples of vehicles designed to carry a load over public highways are passenger automobiles, motorcycles, buses, and highway-type trucks and truck tractors. 2012 1040a tax form A vehicle is a highway vehicle even though the vehicle's design allows it to perform a highway transportation function for only one of the following. 2012 1040a tax form A particular type of load, such as passengers, furnishings, and personal effects (as in a house, office, or utility trailer). 2012 1040a tax form A special kind of cargo, goods, supplies, or materials. 2012 1040a tax form Some off-highway task unrelated to highway transportation, except as discussed next. 2012 1040a tax form Vehicles not considered highway vehicles. 2012 1040a tax form   Generally, the following kinds of vehicles are not considered highway vehicles for purposes of the retail tax. 2012 1040a tax form Specially designed mobile machinery for nontransportation functions. 2012 1040a tax form A self-propelled vehicle is not a highway vehicle if all the following apply. 2012 1040a tax form The chassis has permanently mounted to it machinery or equipment used to perform certain operations (construction, manufacturing, drilling, mining, timbering, processing, farming, or similar operations) if the operation of the machinery or equipment is unrelated to transportation on or off the public highways. 2012 1040a tax form The chassis has been specially designed to serve only as a mobile carriage and mount (and power source, if applicable) for the machinery or equipment, whether or not the machinery or equipment is in operation. 2012 1040a tax form The chassis could not, because of its special design and without substantial structural modification, be used as part of a vehicle designed to carry any other load. 2012 1040a tax form Vehicles specially designed for off-highway transportation. 2012 1040a tax form A vehicle is not treated as a highway vehicle if the vehicle is specially designed for the primary function of transporting a particular type of load other than over the public highway and because of this special design, the vehicles's capability to transport a load over a public highway is substantially limited or impaired. 2012 1040a tax form To make this determination, you can take into account the vehicle's size, whether the vehicle is subject to licensing, safety, or other requirements, and whether the vehicle can transport a load at a sustained speed of at least 25 miles per hour. 2012 1040a tax form It does not matter that the vehicle can carry heavier loads off highway than it is allowed to carry over the highway. 2012 1040a tax form Nontransportation trailers and semitrailers. 2012 1040a tax form A trailer or semitrailer is not treated as a highway vehicle if it is specially designed to function only as an enclosed stationary shelter for carrying on a nontransportation function at an off-highway site. 2012 1040a tax form For example, a trailer that is capable only of functioning as an office for an off-highway construction operation is not a highway vehicle. 2012 1040a tax form Gross vehicle weight. 2012 1040a tax form   The tax does not apply to truck chassis and bodies suitable for use with a vehicle that has a gross vehicle weight (defined below) of 33,000 pounds or less. 2012 1040a tax form It also does not apply to truck trailer and semitrailer chassis and bodies suitable for use with a trailer or semitrailer that has a gross vehicle weight of 26,000 pounds or less. 2012 1040a tax form Tractors that have a gross vehicle weight of 19,500 pounds or less and a gross combined weight of 33,000 pounds or less are excluded from the 12% retail tax. 2012 1040a tax form   The following four classifications of truck body types meet the suitable for use standard and will be excluded from the retail excise tax. 2012 1040a tax form Platform truck bodies 21 feet or less in length. 2012 1040a tax form Dry freight and refrigerated truck van bodies 24 feet or less in length. 2012 1040a tax form Dump truck bodies with load capacities of 8 cubic yards or less. 2012 1040a tax form Refuse packer truck bodies with load capacities of 20 cubic yards or less. 2012 1040a tax form For more information on these classifications, see Revenue Procedure 2005-19, which is on page 832 of I. 2012 1040a tax form R. 2012 1040a tax form B. 2012 1040a tax form 2005-14 at www. 2012 1040a tax form irs. 2012 1040a tax form gov/pub/irs-irbs/irb05-14. 2012 1040a tax form pdf. 2012 1040a tax form   The gross vehicle weight means the maximum total weight of a loaded vehicle. 2012 1040a tax form Generally, this maximum total weight is the gross vehicle weight rating provided by the manufacturer or determined by the seller of the completed article. 2012 1040a tax form The seller's gross vehicle weight rating is determined solely on the basis of the strength of the chassis frame and the axle capacity and placement. 2012 1040a tax form The seller may not take into account any readily attachable components (such as tires or rim assemblies) in determining the gross vehicle weight. 2012 1040a tax form See Regulations section 145. 2012 1040a tax form 4051-1(e)(3) for more information. 2012 1040a tax form Parts or accessories. 2012 1040a tax form   The tax applies to parts or accessories sold on or in connection with, or with the sale of, a taxable article. 2012 1040a tax form For example, if at the time of the sale by the retailer, the part or accessory has been ordered from the retailer, the part or accessory will be considered as sold in connection with the sale of the vehicle. 2012 1040a tax form The tax applies in this case whether or not the retailer bills the parts or accessories separately. 2012 1040a tax form   If the retailer sells a taxable chassis, body, or tractor without parts or accessories considered essential for the operation or appearance of the taxable article, the sale of the parts or accessories by the retailer to the purchaser is considered made in connection with the sale of the taxable article even though they are shipped separately, at the same time, or on a different date. 2012 1040a tax form The tax applies unless there is evidence to the contrary. 2012 1040a tax form For example, if a retailer sells to any person a chassis and the bumpers for the chassis, or sells a taxable tractor and the fifth wheel and attachments, the tax applies to the parts or accessories regardless of the method of billing or the time at which the shipments were made. 2012 1040a tax form The tax does not apply to parts and accessories that are spares or replacements. 2012 1040a tax form   The tax imposed on parts and accessories sold on or in connection with the taxable articles listed earlier and the tax imposed on the separate purchase of parts and accessories (discussed next) for the taxable articles listed earlier do not apply to an idling reduction device or insulation that has an R value of at least R35 per inch. 2012 1040a tax form Idling reduction device. 2012 1040a tax form   An idling reduction device is any device or system of devices that provide the tractor with services, such as heat, air conditioning, and electricity, without the use of the main drive engine while the tractor is temporarily parked or stationary. 2012 1040a tax form The device must be affixed to the tractor and determined by the Administrator of the EPA, in consultation with the Secretary of Energy and Secretary of Transportation, to reduce idling while parked or stationary. 2012 1040a tax form The EPA discusses idling reduction technologies on its website at www. 2012 1040a tax form epa. 2012 1040a tax form gov/smartway/technology/idling. 2012 1040a tax form htm. 2012 1040a tax form Separate purchase. 2012 1040a tax form   The tax generally applies to the price of a part or accessory and its installation if the following conditions are met. 2012 1040a tax form The owner, lessee, or operator of any vehicle that contains a taxable article installs any part or accessory on the vehicle. 2012 1040a tax form The installation occurs within 6 months after the vehicle is first placed in service. 2012 1040a tax form   The owners of the trade or business installing the parts or accessories are secondarily liable for the tax. 2012 1040a tax form   A vehicle is placed in service on the date the owner takes actual possession of the vehicle. 2012 1040a tax form This date is established by a signed delivery ticket or other comparable document indicating delivery to and acceptance by the owner. 2012 1040a tax form   The tax does not apply if the installed part or accessory is a replacement part or accessory. 2012 1040a tax form The tax also does not apply if the total price of the parts and accessories, including installation charges, during the 6-month period is $1,000 or less. 2012 1040a tax form However, if the total price is more than $1,000, the tax applies to the cost of all parts and accessories (and installation charges) during that period. 2012 1040a tax form Example. 2012 1040a tax form You bought a taxable vehicle and placed it in service on April 8. 2012 1040a tax form On May 3, you bought and installed parts and accessories at a cost of $850. 2012 1040a tax form On July 15, you bought and installed parts and accessories for $300. 2012 1040a tax form Tax of $138 (12% of $1,150) applies on July 15. 2012 1040a tax form Also, tax will apply to any costs of additional parts and accessories installed on the vehicle before October 8. 2012 1040a tax form First retail sale defined. 2012 1040a tax form   The sale of an article is treated as the first retail sale, and the seller will be liable for the tax imposed on the sale unless one of the following exceptions applies. 2012 1040a tax form There has been a prior taxable sale, lease, or use of the article (however, see Tax on resale of tax-paid trailers and semitrailers, later). 2012 1040a tax form The sale qualifies as a tax-free sale under section 4221 (see Sales exempt from tax, later). 2012 1040a tax form The seller in good faith accepts from the purchaser a statement signed under penalties of perjury and executed in good faith that the purchaser intends to resell the article or lease it on a long-term basis. 2012 1040a tax form There is no registration requirement. 2012 1040a tax form Leases. 2012 1040a tax form   A long-term lease (a lease with a term of 1 year or more, taking into account options to renew) before a first retail sale is treated as a taxable sale. 2012 1040a tax form The tax is imposed on the lessor at the time of the lease. 2012 1040a tax form   A short-term lease (a lease with a term of less than 1 year, taking into account options to renew) before a first retail sale is treated as a taxable use. 2012 1040a tax form The tax is imposed on the lessor at the time of the lease. 2012 1040a tax form Exported vehicle. 2012 1040a tax form   A vehicle exported before its first retail sale, used in a foreign country, and then returned to the United States is subject to the retail tax on its first domestic use or retail sale after importation. 2012 1040a tax form Tax on resale of tax-paid trailers and semitrailers. 2012 1040a tax form   The tax applies to a trailer or semitrailer resold within 6 months after having been sold in a taxable sale. 2012 1040a tax form The seller liable for the tax on the resale can claim a credit equal to the tax paid on the prior taxable sale. 2012 1040a tax form The credit cannot exceed the tax on the resale. 2012 1040a tax form See Regulations section 145. 2012 1040a tax form 4052-1(a)(4) for information on the conditions to allowance for the credit. 2012 1040a tax form Use treated as sale. 2012 1040a tax form   If any person uses a taxable article before the first retail sale of the article, that person is liable for the tax as if the article had been sold at retail by that person. 2012 1040a tax form Figure the tax on the price at which similar articles are sold in the ordinary course of trade by retailers. 2012 1040a tax form The tax attaches when the use begins. 2012 1040a tax form   If the seller of an article regularly sells the articles at retail in arm's-length transactions, figure the tax on its use on the lowest established retail price for the articles in effect at the time of the taxable use. 2012 1040a tax form   If the seller of an article does not regularly sell the articles at retail in arm's-length transactions, a constructive price on which the tax is figured will be determined by the IRS after considering the selling practices and price structures of sellers of similar articles. 2012 1040a tax form   If a seller of an article incurs liability for tax on the use of the article and later sells or leases the article in a transaction that otherwise would be taxable, liability for tax is not incurred on the later sale or lease. 2012 1040a tax form Presumptive retail sales price. 2012 1040a tax form   There are rules to ensure that the tax base of transactions considered to be taxable sales includes either an actual or presumed markup percentage. 2012 1040a tax form If the person liable for tax is the vehicle's manufacturer, producer, or importer, the following discussions show how you figure the presumptive retail sales price depending on the type of transaction and the persons involved in the transaction. 2012 1040a tax form Table 6-1 outlines the appropriate tax base calculation for various transactions. 2012 1040a tax form   The presumed markup percentage to be used for trucks and truck-tractors is 4%. 2012 1040a tax form But for truck trailers and semitrailers and remanufactured trucks and tractors, the presumed markup percentage is zero. 2012 1040a tax form Sale. 2012 1040a tax form   For a taxable sale by a manufacturer, producer, importer, or related person, you generally figure the tax on a tax base of the sales price plus an amount equal to the presumed markup percentage times that sales price. 2012 1040a tax form Long-term lease. 2012 1040a tax form   In the case of a long-term lease by a manufacturer, producer, importer, or related person, figure the tax on a tax base of the constructive sales price plus an amount equal to the presumed markup percentage times the constructive sales price. 2012 1040a tax form Short-term lease. 2012 1040a tax form   When a manufacturer, producer, importer, or related person leases an article in a short-term lease considered a taxable use, figure the tax on a constructive sales price at which those or similar articles generally are sold in the ordinary course of trade by retailers. 2012 1040a tax form   But if the lessor in this situation regularly sells articles at retail in arm's-length transactions, figure the tax on the lowest established retail price in effect at the time of the taxable use. 2012 1040a tax form   If a person other than the manufacturer, producer, importer, or related person leases an article in a short-term lease considered a taxable use, figure the tax on a tax base of the price for which the article was sold to the lessor plus the cost of parts and accessories installed by the lessor and a presumed markup percentage. 2012 1040a tax form Related person. 2012 1040a tax form   A related person is any member of the same controlled group as the manufacturer, producer, or importer. 2012 1040a tax form Do not treat as a related person a person that sells the articles through a permanent retail establishment in the normal course of being a retailer if that person has records to prove the article was sold for a price that included a markup equal to or greater than the presumed markup percentage. 2012 1040a tax form Table 6-1. 2012 1040a tax form Tax Base IF the transaction is a. 2012 1040a tax form . 2012 1040a tax form . 2012 1040a tax form THEN figuring the base by using the. 2012 1040a tax form . 2012 1040a tax form . 2012 1040a tax form Sale by the manufacturer, producer, importer, or related person Sales price plus (presumed markup percentage × sales price) Sale by the dealer Total consideration paid for the item including any charges incident to placing it in a condition ready for use Long-term lease by the manufacturer, producer, importer, or related person Constructive sales price plus (presumed markup percentage × constructive sales price) Short-term lease by the manufacturer, producer, importer, or related person Constructive sales price at which such or similar articles are sold Short-term lease by a lessor other than the manufacturer, producer, importer, or related person Price for which the article was sold to the lessor plus the cost of parts and accessories installed by the lessor plus a presumed markup percentage Short-term lease where the articles are regularly sold at arm's length Lowest established retail price in effect at the time of the taxable use General rule for sales by dealers to the consumer. 2012 1040a tax form   For a taxable sale, other than a long-term lease, by a person other than a manufacturer, producer, importer, or related person, your tax base is the retail sales price as discussed next under Determination of tax base. 2012 1040a tax form   When you sell an article to the consumer, generally you do not add a presumed markup to the tax base. 2012 1040a tax form However, you do add a markup if all the following apply. 2012 1040a tax form You do not perform any significant activities relating to the processing of the sale of a taxable article. 2012 1040a tax form The main reason for processing the sale through you is to avoid or evade the presumed markup. 2012 1040a tax form You do not have records proving that the article was sold for a price that included a markup equal to or greater than the presumed markup percentage. 2012 1040a tax form In these situations, your tax base is the sales price plus an amount equal to the presumed markup percentage times that selling price. 2012 1040a tax form Determination of tax base. 2012 1040a tax form   These rules apply to both normal retail sales price and presumptive retail sales price computations. 2012 1040a tax form To arrive at the tax base, the price is the total consideration paid (including trade-in allowance) for the item and includes any charge incident to placing the article in a condition ready for use. 2012 1040a tax form However, see Presumptive retail sales price, earlier. 2012 1040a tax form Exclusions from tax base. 2012 1040a tax form   Exclude from the tax base the retail excise tax imposed on the sale. 2012 1040a tax form Exclude any state or local retail sales tax if stated as a separate charge from the price whether the sales tax is imposed on the seller or purchaser. 2012 1040a tax form Also exclude the value of any used component of the article furnished by the first user of the article. 2012 1040a tax form   Exclude charges for transportation, delivery, insurance, and installation (other than installation charges for parts and accessories, discussed earlier) and other expenses incurred in connection with the delivery of an article to a purchaser. 2012 1040a tax form These expenses are those incurred in delivery from the retail dealer to the customer. 2012 1040a tax form In the case of delivery directly from the manufacturer to the dealer's customer, include the transportation and delivery charges to the extent the charges do not exceed what it would have cost to ship the article to the dealer. 2012 1040a tax form   Exclude amounts charged for machinery or equipment that does not contribute to the highway transportation function of the vehicle, provided those charges are supported by adequate records. 2012 1040a tax form For example, for an industrial vacuum loader vehicle, exclude amounts charged for the vacuum pump and hose, filter system, material separator, silencer or muffler, control cabinet, and ladder. 2012 1040a tax form Similarly, for a sewer cleaning vehicle, exclude amounts charged for the high pressure water pump, hose components, and the vacuum pipe. 2012 1040a tax form Sales not at arm's length. 2012 1040a tax form   For any taxable article sold (not at arm's length) at less than the fair market price, figure the excise tax on the price for which similar articles are sold at retail in the ordinary course of trade. 2012 1040a tax form   A sale is not at arm's length if either of the following apply. 2012 1040a tax form One of the parties is controlled (in law or in fact) by the other or there is common control, whether or not the control is actually exercised to influence the sales price. 2012 1040a tax form The sale is made under special arrangements between a seller and a purchaser. 2012 1040a tax form Installment sales. 2012 1040a tax form   If the first retail sale is an installment sale, or other form of sale in which the sales price is paid in installments, tax liability arises at the time of the sale. 2012 1040a tax form The tax is figured on the entire sales price. 2012 1040a tax form No part of the tax is deferred because the sales price is paid in installments. 2012 1040a tax form Repairs and modifications. 2012 1040a tax form   The tax does not apply to the sale or use of an article that has been repaired or modified unless the cost of the repairs and modifications is more than 75% of the retail price of a comparable new article. 2012 1040a tax form This includes modifications that change the transportation function of an article or restore a wrecked article to a functional condition. 2012 1040a tax form However, this exception generally does not apply to an article that was not subject to the tax when it was new. 2012 1040a tax form Further manufacture. 2012 1040a tax form   The tax does not apply to the use by a person of a taxable article as material in the manufacture or production of, or as a component part of, another article to be manufactured or produced by that person. 2012 1040a tax form Do not treat a person as engaged in the manufacture of any article merely because that person combines the article with a: Coupling device (including any fifth wheel); Wrecker crane; Loading and unloading equipment (including any crane, hoist, winch, or power liftgate); Aerial ladder or tower; Ice and snow control equipment; Earth moving, excavation, and construction equipment; Spreader; Sleeper cab; Cab shield; or Wood or metal floor. 2012 1040a tax form Combining an article with an item in this list does not give rise to taxability. 2012 1040a tax form However, see Parts or accessories discussed earlier. 2012 1040a tax form Articles exempt from tax. 2012 1040a tax form   The tax on heavy trucks, trailers, and tractors does not apply to sales of the articles described in the following discussions. 2012 1040a tax form Rail trailers and rail vans. 2012 1040a tax form   This is any chassis or body of a trailer or semitrailer designed for use both as a highway vehicle and a railroad car (including any parts and accessories designed primarily for use on and in connection with it). 2012 1040a tax form Do not treat a piggyback trailer or semitrailer as designed for use as a railroad car. 2012 1040a tax form Parts and accessories. 2012 1040a tax form   This is any part or accessory sold separately from the truck or trailer, except as described earlier under Parts or accessories and Separate purchase. 2012 1040a tax form Trash containers. 2012 1040a tax form   This is any box, container, receptacle, bin, or similar article that meets all the following conditions. 2012 1040a tax form It is designed to be used as a trash container. 2012 1040a tax form It is not designed to carry freight other than trash. 2012 1040a tax form It is not designed to be permanently mounted on or affixed to a truck chassis or body. 2012 1040a tax form House trailers. 2012 1040a tax form   This is any house trailer (regardless of size) suitable for use in connection with either passenger automobiles or trucks. 2012 1040a tax form Camper coaches or bodies for self-propelled mobile homes. 2012 1040a tax form   This is any article designed to be mounted or placed on trucks, truck chassis, or automobile chassis and to be used primarily as living quarters or camping accommodations. 2012 1040a tax form Further, the tax does not apply to chassis specifically designed and constructed to accommodate and transport self-propelled mobile home bodies. 2012 1040a tax form Farm feed, seed, and fertilizer equipment. 2012 1040a tax form   This is any body primarily designed to process or prepare, haul, spread, load, or unload feed, seed, or fertilizer to or on farms. 2012 1040a tax form This exemption applies only to the farm equipment body (and parts and accessories) and not to the chassis upon which the farm equipment is mounted. 2012 1040a tax form Ambulances and hearses. 2012 1040a tax form   This is any ambulance, hearse, or combination ambulance-hearse. 2012 1040a tax form Truck-tractors. 2012 1040a tax form   This is any truck-tractor specifically designed for use in shifting semitrailers in and around freight yards and freight terminals. 2012 1040a tax form Concrete mixers. 2012 1040a tax form   This is any article designed to be placed or mounted on a truck, truck trailer, or semitrailer chassis to be used to process or prepare concrete. 2012 1040a tax form This exemption does not apply to the chassis on which the article is mounted. 2012 1040a tax form Sales exempt from tax. 2012 1040a tax form   The following sales are ordinarily exempt from tax. 2012 1040a tax form Sales to a state or local government for its exclusive use. 2012 1040a tax form Sales to Indian tribal governments, but only if the transaction involves the exercise of an essential tribal government function. 2012 1040a tax form Sales to a nonprofit educational organization for its exclusive use. 2012 1040a tax form Sales to a qualified blood collector organization (as defined under Communications Tax in chapter 4) for its exclusive use in the collection, storage, or transportation of blood. 2012 1040a tax form Sales for use by the purchaser for further manufacture of other taxable articles (see below). 2012 1040a tax form Sales for export or for resale by the purchaser to a second purchaser for export. 2012 1040a tax form Sales to the United Nations for official use. 2012 1040a tax form Registration requirement. 2012 1040a tax form   In general, the seller and buyer must be registered for a sale to be tax free. 2012 1040a tax form See the Form 637 instructions for more information. 2012 1040a tax form Certain registration exceptions apply in the case of sales to state and local governments, sales to foreign purchasers for export, and sales for resale or long term leasing. 2012 1040a tax form Further manufacture. 2012 1040a tax form   If you buy articles tax free and resell or use them other than in the manufacture of another article, you are liable for the tax on their resale or use just as if you had manufactured and made the first retail sale of them. 2012 1040a tax form Credits or refunds. 2012 1040a tax form   A credit or refund (without interest) of the retail tax on the taxable articles described earlier may be allowable if the tax has been paid with respect to an article and, before any other use, such article is used by any person as a component part of another taxable article manufactured or produced. 2012 1040a tax form The person using the article as a component part is eligible for the credit or refund. 2012 1040a tax form   A credit or refund is allowable if, before any other use, an article is, by any person: Exported, Used or sold for use as supplies for vessels, Sold to a state or local government for its exclusive use, Sold to a nonprofit educational organization for its exclusive use, or Sold to a qualified blood collector organization (as defined under Communications Tax in chapter 4) for its exclusive use in the collection, storage, or transportation of blood. 2012 1040a tax form A credit or refund is also allowable if there is a price readjustment by reason of the return or repossession of an article or by reason of a bona fide discount, rebate, or allowance. 2012 1040a tax form   See also Conditions to allowance in chapter 5. 2012 1040a tax form Tire credit. 2012 1040a tax form   A credit is allowed against the retail tax on the taxable articles described earlier if taxable tires are sold on or in connection with the sale of the article. 2012 1040a tax form The credit is equal to the manufacturers excise tax imposed on the taxable tires (discussed earlier). 2012 1040a tax form This is the section 4051(d) taxable tire credit and is claimed on Schedule C (Form 720) for the same quarter for which the tax on the heavy vehicle is reported. 2012 1040a tax form Prev  Up  Next   Home   More Online Publications