BLU example 2
For example, if you paid early and declared $120 in gross sales for the March 31st period but you realized at the end of the period sales were actually $140. That means you paid tax on only 85.71% for that period which is below the 90% threshold. That means you must pay interest on the…
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If you paid early and declared $120 in gross sales for the March 31st period but you realized at the end of the period, sales were actually $130. The tax on the $10 difference must be paid by the end of the second quarter which ends at June 30th.
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“company” means any body corporate or unincorporated association, but does not include a partnership. 75.02
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