Timely Discount

If you file your sales and use tax return and pay your sales tax on a timely basis, you are allowed to keep a portion of the sales tax as a discount. The allowable discount for timely filing and paying is 1.2 percent of the first $6,000 collected and 0.9 percent for the amount above $6,000.

The discount is capped at $500 for each return. If you are filing a consolidated return, or are eligible to file a consolidated return, the total maximum discount allowed for all returns for any one period is $500.

If the amount on line 4 of your return is $6,000 or less, multiply that amount by .012 and enter the total on line 5. If the amount on line 4 is greater than $6,000, multiply that amount by .009, add $18 and enter the total on line 5. The discount may not be taken if the return and payment are submitted after the due date.