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Use and Finance Biannual Reporting Form Reporting Period (check one):January 1, 2018, through June 30, 2018, X July 1, 2018, through December 31, 2018, University/College: Number of Projects to Report:
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Start by gathering all the necessary documents such as income statements, expense reports, and financial statements.
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Use and finance bi-annual refers to a reporting period in which businesses must document and report their use tax liability and finance the associated fees or taxes on a bi-annual basis.
Businesses that engage in taxable purchases or imports that are subject to use tax are required to file use and finance bi-annual.
To fill out the use and finance bi-annual, businesses must gather all relevant transaction records, calculate the total use tax owed, and complete the designated forms provided by the tax authority.
The purpose of use and finance bi-annual is to ensure that businesses accurately report and remit their use tax liabilities to the taxing authority on a regular basis.
Information that must be reported includes total taxable purchases, the calculated use tax due, and any applicable credits or exemptions.
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