Get the free PETROLEUM GROSS RECEIPTS TAX RETURN - FORM LQ4 9501 - revenue delaware

This document is a tax return form for reporting petroleum gross receipts in Delaware. It provides instructions for calculating taxable gross receipts and the corresponding tax liabilities.

How to fill out petroleum gross receipts tax

How to fill out PETROLEUM GROSS RECEIPTS TAX RETURN - FORM LQ4 9501

1. Obtain the PETROLEUM GROSS RECEIPTS TAX RETURN - FORM LQ4 9501 from your local revenue office or download it from the official website.
2. Fill in the top section with your personal or business information, including name, address, and tax identification number.
3. List all gross receipts from the sale of petroleum products in the designated section, specifying the types of products sold.
4. Calculate the total gross receipts by summing up the amounts reported for each product.
5. Determine the applicable tax rate for petroleum gross receipts and calculate the tax due based on your total gross receipts.
6. Complete any additional sections that may be required, such as deductions or credits relevant to your situation.
7. Review the entire form for accuracy and completeness before signing and dating it.
8. Submit the completed form along with any payment for the tax due to the appropriate tax authority by the deadline.

Who needs PETROLEUM GROSS RECEIPTS TAX RETURN - FORM LQ4 9501?

1. Businesses involved in the sale of petroleum products, including wholesalers, retailers, and distributors.
2. Companies that produce or refine petroleum products and are required to report their gross receipts.
3. Entities that are subject to petroleum gross receipts tax as mandated by state or local tax regulations.

People Also Ask about

Who is exempt from paying taxes in New Mexico?

New Mexico State Income Tax Exemptions Persons over 100 years old are exempt from New Mexico state income tax. Also, members of federally recognized tribes who earn income from work within the boundaries of the tribe's reservation or pueblo are exempt from state income tax for those earnings.

Who must pay New Mexico gross receipts tax?

The tax is imposed on the gross receipts of persons who: sell property in New Mexico; property includes real property, tangible personal property, including electricity and manufactured homes, licenses (other than the licenses of copyrights, trademarks or patents) and franchises.

How does GRT work in New Mexico?

“Gross receipts” means the total amount of money or the value of other consideration received from selling property in New Mexico, leasing or licensing property employed in New Mexico, from granting a right to use a franchise employed in New Mexico, performing services in New Mexico or selling research and development

Who is subject to New Mexico gross receipts tax?

The tax is imposed on the gross receipts of persons who: sell property in New Mexico; property includes real property, tangible personal property, including electricity and manufactured homes, licenses (other than the licenses of copyrights, trademarks or patents) and franchises.

Does Texas have a gross receipts tax?

The other states that levy a gross receipts tax (Nevada, Ohio, Oregon, Tennessee, Texas, and Washington) also levy a general sales tax so revenue from both taxes may be included in the states' collection totals.

What is the gross receipts tax rate for petroleum products in New Jersey?

Rates for the Petroleum Products Gross Receipts Tax. $0.344 per gal.

Does NJ have a gross receipts tax?

Additionally, all corporations are subject to a minimum tax based on their New Jersey gross receipts, ranging from $500 to $2,000 based on the amount of a corporation's gross receipts.

Who pays gross receipts tax?

A gross receipts tax is often compared to a sales tax; the difference is that a gross receipts tax is levied upon the seller of goods or services, while a sales tax is nominally levied upon the buyer (although both are usually collected and paid to the government by the seller).

For pdfFiller’s FAQs

What is PETROLEUM GROSS RECEIPTS TAX RETURN - FORM LQ4 9501?

The PETROLEUM GROSS RECEIPTS TAX RETURN - FORM LQ4 9501 is a tax form used for reporting and paying the gross receipts tax on petroleum products in certain jurisdictions. It captures financial information related to the sale of petroleum products to ensure compliance with state tax regulations.

Who is required to file PETROLEUM GROSS RECEIPTS TAX RETURN - FORM LQ4 9501?

Entities engaged in the business of producing, refining, or selling petroleum products are required to file the PETROLEUM GROSS RECEIPTS TAX RETURN - FORM LQ4 9501. This typically includes oil companies, refiners, and distributors operating within the jurisdiction that imposes this tax.

How to fill out PETROLEUM GROSS RECEIPTS TAX RETURN - FORM LQ4 9501?

To fill out the PETROLEUM GROSS RECEIPTS TAX RETURN - FORM LQ4 9501, you need to gather relevant financial information regarding petroleum sales. Complete the form by providing the required details, such as gross receipts from sales, any credits or deductions applicable, and calculate the total tax owed based on the provided guidance in the instructions.

What is the purpose of PETROLEUM GROSS RECEIPTS TAX RETURN - FORM LQ4 9501?

The purpose of the PETROLEUM GROSS RECEIPTS TAX RETURN - FORM LQ4 9501 is to ensure that businesses involved in the petroleum industry report their gross receipts accurately and pay the associated taxes. This helps state governments collect revenue that is used for public services and infrastructure.

What information must be reported on PETROLEUM GROSS RECEIPTS TAX RETURN - FORM LQ4 9501?

The information that must be reported on the PETROLEUM GROSS RECEIPTS TAX RETURN - FORM LQ4 9501 includes total gross receipts from petroleum sales, details of any deductions or credits, reporting periods, and the total tax calculation. Additionally, business identification information such as name, address, and tax identification number may also be required.