Instructions for Form PT-103 Tax on Residual Petroleum Product Businesses - New York

Form PT-103 Tax on Residual Petroleum Product Businesses - New York

This document contains official instructions for Form PT-103 , Tax on Residual Petroleum Product Businesses - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form PT-103 is available for download through this link.

FAQ

Q: What is Form PT-103?A: Form PT-103 is a tax form for reporting and paying taxes by residual petroleum product businesses in New York.

Q: Who needs to file Form PT-103?A: Residual petroleum product businesses operating in New York need to file Form PT-103.

Q: What is the purpose of Form PT-103?A: The purpose of Form PT-103 is to report and pay taxes on the sale of residual petroleum products in New York.

Q: How often do I need to file Form PT-103?A: Form PT-103 must be filed on a quarterly basis.

Q: What information is required on Form PT-103?A: Form PT-103 requires information such as gross receipts from sales, deductions, and tax due.

Q: What are the penalties for not filing Form PT-103?A: Failure to file Form PT-103 can result in penalties and interest charges on the unpaid taxes.

Q: Are there any exceptions to filing Form PT-103?A: There may be exceptions for small businesses with low sales volume, but it is best to consult with a tax professional or the Department of Taxation and Finance for specific details.

Q: When is the deadline for filing Form PT-103?A: The deadline for filing Form PT-103 is the last day of the month following the end of each quarter.