AFT Accelerated Fee in Lieu of Settlement Payment for June by Cannabisrapper

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									                                                                                                                                                                    AFT
Accelerated Fee in Lieu of Settlement Payment for June
The fee in lieu of settlement payment for June is paid in two separate installments. Pay the first installment (Part 1) with
your May return. Pay the second installment (Part 2) with your June return.
Penalty: If your liability during the last fiscal year ending June 30 is $120,000 or more, you will be assessed a 10 percent
penalty if you underpay the June accelerated payment. To avoid the penalty, your payment must be at least 78 percent of
either your actual May liability or your actual June liability. (M.S. 297F.24, subd. 3).

                   Company name                                                                                                     Minnesota tax ID number
  Print or type




                   Street                                                                                                           Period of return (month/year)
                                                                                                                                                    June
                   City                                                                    State           Zip code




                   Part 1
                   Complete Part 1 to determine your accelerated payment for June. File it with your regular May return, which is due two business
                   days before June 30. Keep a copy for your records; you will need it to complete Part 2.
  may/June




                    1 Total due for May (enter the amount from CT201-F, line 17, OR
                      CT401-F, line 6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

                    2 Enter 78 percent of amount due for May or 78 percent of amount you estimate due for June . . . . 2

                    3 Add lines 1 and 2. PAy ThiS AmounT with your regular May cigarette return . . . . . . . . . . . . . . . 3
                      you must make your payment electronically.



                                                               cut here and return the top part with your May return


                                                                                                                                                                    AFT
                                                                                                                                                                    Part 2
Accelerated Fee in Lieu of Settlement Payment for June—Part 2
Complete Part 2 to determine the remainder of your actual fee in lieu of settlement liability for June. File it with your regular June return,
which is due on or before August 18. If the due date falls on a weekend, your return is due no later than the next business day.
If you do not pay all of the amount you owe on time, we will bill you for penalty and interest charges. Keep a copy for your records.

                   Company name                                                                                                     Minnesota tax ID number
  Print or type




                   Street                                                                                                           Period of return (month/year)
                                                                                                                                                    June
                   City                                                                    State           Zip code




                    1 Total actual fee in lieu of settlement for June (enter the amount from CT201-F, line 17, OR
  June liability




                      CT401-F, line 6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

                    2 Amount of accelerated liability you paid for June (from line 2 of Part 1) . . . . . . . . . . . . . . . . . . . . 2

                    3 Subtract line 2 from line 1. PAy ThiS AmounT with your regular June return . . . . . . . . . . . . . . . 3
                      you must make your payment electronically.


                   Questions? Call 651-297-1882. TTY: Call 711 for Minnesota Relay.
                   Alternative formats available upon request.
(Rev. 1/08)
instructions for Form AFT
If your liability during the last fiscal year   First-time users: If you have never used
ending June 30 is $120,000 or more, you         e-File Minnesota to file or pay taxes, you
must make a June accelerated payment.           will need a temporary password to access
                                                the system. Call our Registration Services
Your payment must equal 78 percent of
                                                office at 651-282-5225 or 1-800-657-3605.
either your actual May liability or your
actual June liability.                          You can also use the following electronic
                                                methods to make your payments, but you
If you underpay your June accelerated
                                                are responsible for paying any fees and for
payment, you will be assessed a 10 percent
                                                ensuring your payment is received on time.
penalty.
                                                •	 Credit method. First, call us at
Payments                                           651-297-1882 to get the state’s banking
Your payment must be made electronically.          information. Then, authorize your bank
Use our e-File Minnesota system to make            to transfer funds to the state’s bank
payments either over the Internet or by            account. You will be charged for each
touch-tone phone. (The system is not yet           transaction. The bank must make the
available for filing monthly cigarette and         transfer on or before the due date.
tobacco tax returns.)                              Check with your bank for authorization
                                                   deadlines to ensure your payment is made
To pay over the Internet, go to                    on time. (Some banks require up
www.taxes.state.mn.us and click “Login to          to three banking days to transfer funds.)
e-File Minnesota” on the e-Service menu.        •	 Fed Wire. For information call
If you don’t have Internet access, you can         651-297-1882.
pay by phone at 1-800-570-3329. You’ll
need your Minnesota ID number, pass-            Information on ACH credit is also
word, and bank routing and account              available on the Department of Revenue
numbers. Follow the prompts for making          website. Go to www.taxes.state.mn.us and
a payment only.                                 click on the e-Services menu, then select
                                                “Make a payment by ACH credit.”

								
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