Set Up Trust Tax Types

Navigate:ClosedBusiness Revenue > Setup > Trust Tax Types > Trust Tax Types

ClosedNavigation Flowchart

Here is a flowchart of Trust Tax Types Setup.  It includes Common Actions only if critical to completing the task. Obvious actions, such as Save, Previous and Close, are not  included in the flowchart.

Description

Set up the trust tax types for each variation of calculation and display on a return. For example, hotel gross receipts or rentals may have a trust tax and would each need a type. Assign a unique code to the trust tax type and define its rate and calendar. The trust tax type is then associated with a business type when the business type requires trust tax.

SETUP: See Business Revenue and Business Setup for any applicable prerequisites, dependencies and setup information for this task.

ClosedJurisdiction Specific Information

San Francisco, California

  • Printing ALT, CIG, and UUT Forms. The ability to print multiple forms, such as ALT, CIG, and UUT forms, based on trust tax type is available based on the Business Revenue effective date boolean application setting, Printing Multiple Types of Trust Tax Forms. To set this and to define the trust tax type:

    1. Go to Configuration > Application Settings > Maintain Application Settings.

    2. Select the Setting Type of Effective Date and the Filter By Module of Business Revenue.

    3. Click Edit on the Printing Multiple Types of Trust Tax Formsapplication setting, and select the checkbox to set the setting to True. The default is False.

    4. Click Save and Close.

    5. Next, go to Business Revenue > Setup > Trust Tax Types > Set Up Trust Tax Types.

    6. Select the Type Codes for Access Line Tax and Utility Users Tax M: Access Line Tax - Batch and Utility Users Tax M - Batch and define the remaining details as applicable.

    7. Apply the change to each Trust Tax Type to which you want to apply this type, and click Save.

    8. To print the forms, go to Business Revenue > Trust Tax > Return Printing > Print Trust Tax Returns.

    9. Select the Access Line Tax and Utility Users Tax checkboxes in the Trust Tax Types panel.

    10. Click Queue Process to submit the PDF forms to the Monitor Batch Processes screen. Select the batch process when finished processing to advance to the View Batch Process Details screen, and select the generated report PDFs.

  • Trust Tax Return Quarterly True-Up Payments. A Business Revenue effective dated, systype application setting Trust tax VT for recap payment validation is used to select the value type for recap payment validation for quarterly true-up payments for trust tax return processing. The trust tax type must be set up via Business Revenue > Setup > Trust Tax Types as requiring Last Period Recap (checkbox). When the application setting is set to True, and the trust tax type requires last period recapping for quarterly true-up payments, clicking Post on the Process Trust Tax Returns screen initiates a validation to determine if the period being filed is the last period of the year for that trust tax account. If so, posting occurs; otherwise, a message displays indicating why posting cannot occur. When set to True, the Maintain Trust Tax Accounts screen includes a view only Last Period is Total Year Recap checkbox that is selected if the trust tax account has been set via Setup > Trust Tax Types as requiring the Last Period Recap. Once the trust tax return is processed, a Levy Management API calls the values and processes them to include the quarterly true-up billing in levy calculations. Accounts Receivable then supports collection of the quarterly true-up payments.

Steps

  1. Click Add in the Trust Tax Types panel title bar to add a new type,

    OR

    click Edit on a row to modify an existing trust tax.

  2. Assign a unique Type code.

  3. Enter aDescription name for the trust tax type.

  4. Select the appropriate Rate type used to calculate this trust tax.

  5. Select the appropriate Calendar.

  6. Select the appropriate Trust tax value type group. There is a group for each variation of trust tax value type and its display. The value types take into consideration reported values, calculated values, and special indicator values. The value type groups are already set up and provided for you.

  7. Select the Last Recap Period checkbox if this particular trust tax type requires quarterly filing with Q-4 true-up payments.

    IMPORTANT: See the Jurisdiction Specific Information at the top of this topic for details about this field and necessary setup requirements.

  8. Click Apply to save the information to the panel.

  9. Click Save to save all changes.

    • Click Close to exit without saving changes.

Valuable Vocabulary

Trust Tax >ClosedTrust tax is a tax collected and held by a business engaged in a specific type of activity, such as lodging, meal, admissions, or daily rental. The tax is collected on behalf of the jurisdiction and remitted and reported on a defined periodic basis. Terminology varies by state; other common names are Trustee Tax and Tourist Development Tax.

Related Topics

Set Up Business Types

Functional Calendar