*Notes: A 70% non-EFT and 100 % EFT payments and most types of adjustments at the time of calculating the early draw B Any outstanding items not accounted for in early draw(s)for the accounting month C 70 %NON-EFT payments and most types of adjustments at the time of calculating the early draw D 100 % EFT payments posted to system For the accounting months of June and December the final payment will encompass more adjustments than usual since the early draw was run earlier in the month. Accounting month = Report month on the new ST locality reports Q: What does each Sales Tax distribution payment contain and how were the payment amounts calculated before and after the upgrade to a systematic determination of distribution on 4/1/2016? A: Effective Dates < 4/1/2016 >= 4/1/2016 (A)Early Draw (1) Accounting A percentage of Payments (70% of non The same percentage of payments (70% of non Months returns EFT and 100% of EFT) for the month with a EFT payments and 100 % of EFT) for the month are not due: possible adjustment for material and including real time systematic adjustments January adjustments. This early draw was (i.e. return adjustments, refunds, bank February completed manually and not systemically. adjustments, retargets, & credits forward) April occurring on the ST processing system at the May time the program for early draw runs. July Note: August Your money could be up or down depending on October whether or not your adjustments are more November positive or negative. Your total money for the
*Notes: A 70% non-EFT and 100 % EFT payments and most types of adjustments at the time of calculating the early draw B Any outstanding items not accounted for in early draw(s)for the accounting month C 70 %NON-EFT payments and most types of adjustments at the time of calculating the early draw D 100 % EFT payments posted to system For the accounting months of June and December the final payment will encompass more adjustments than usual since the early draw was run earlier in the month. Accounting month = Report month on the new ST locality reports Q: What does each Sales Tax distribution payment contain and how were the payment amounts calculated before and after the upgrade to a systematic determination of distribution on 4/1/2016? A: Effective Dates < 4/1/2016 >= 4/1/2016 (A)Early Draw (1) Accounting Months returns are not due: January February April May July August October November A percentage of Payments (70% of non EFT and 100% of EFT) for the month with a possible adjustment for material adjustments. This early draw was completed manually and not systemically. The same percentage of payments (70% of non EFT payments and 100 % of EFT) for the month and including real time systematic adjustments (i.e. return adjustments, refunds, bank adjustments, retargets, & credits forward) occurring on the ST processing system at the time the program for early draw runs. Note: Your money could be up or down depending on whether or not your adjustments are more positive or negative. Your total money for the
FAQ%20for%20the%20New%20Sales%20Tax%20Reports.docx