Form 69-114 Cigars and Tobacco Products Tax Credit Worksheet - Texas

What Is Form 69-114?

This is a legal form that was released by the Texas Comptroller of Public Accounts - a government authority operating within Texas. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 69-114?
A: Form 69-114 is the Cigars and Tobacco Products Tax Credit Worksheet in Texas.

Q: What is the purpose of Form 69-114?
A: The purpose of Form 69-114 is to calculate and claim the tax credit for cigars and tobacco products in Texas.

Q: Who needs to use Form 69-114?
A: Individuals, partnerships, corporations, and other entities that sell cigars and tobacco products in Texas and qualify for the tax credit need to use Form 69-114.

Q: What is the tax credit for cigars and tobacco products in Texas?
A: The tax credit for cigars and tobacco products in Texas is 35% of the total amount of state and local sales and use taxes paid on the products.

Q: How do I calculate the tax credit using Form 69-114?
A: To calculate the tax credit, you need to enter the total amount of state and local sales and use taxes paid on cigars and tobacco products, and then multiply that amount by 35%.

Q: When is the deadline to file Form 69-114?
A: The deadline to file Form 69-114 is the same as the deadline to file the Texas Sales and Use Tax Return, which is the 20th day of the month following the reporting period.

Q: Is there a penalty for late filing of Form 69-114?
A: Yes, there may be a penalty for late filing of Form 69-114. It is recommended to file the form on time to avoid any penalties or interest.

Q: What supporting documents do I need to attach with Form 69-114?
A: You do not need to attach any supporting documents with Form 69-114. However, it is advised to keep all records and documents related to the tax credit for at least four years in case of an audit.