Form 01-118 Texas Sales and Use Tax Prepayment Report - Texas

What Is Form 01-118?

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 01-118?
A: Form 01-118 is the Texas Sales and Use Tax Prepayment Report.

Q: Who needs to file Form 01-118?
A: Businesses in Texas who are required to collect sales and use tax must file Form 01-118.

Q: What is the purpose of Form 01-118?
A: Form 01-118 is used to report and prepay sales and use tax for a specific reporting period.

Q: When is Form 01-118 due?
A: Form 01-118 is due on or before the 20th day of the month following the reporting period.

Q: Are there any penalties for late filing of Form 01-118?
A: Yes, there may be penalties for late filing or failure to prepay the required sales and use tax.

Q: What information is required to complete Form 01-118?
A: Businesses will need to provide their sales and use tax permit number, reporting period, and total amount of taxable sales.

Q: Can I amend Form 01-118 if I make a mistake?
A: Yes, businesses can amend Form 01-118 if they discover an error or omission in their original report.

Q: Is Form 01-118 only applicable to businesses in Texas?
A: Yes, Form 01-118 is specific to businesses operating in the state of Texas.