Texas Sales and Use Tax Return Form 01-117 Instructions

Submit your completed form to the Texas Comptroller's office by mail or electronically. The mailing address is Texas Comptroller of Public Accounts, P.O. Box 149355, Austin, TX 78714-9355. For electronic submissions, visit the Texas Comptroller's website and use their online submission form. Ensure all fields are accurately filled, and the form is signed and dated before submission. Contact 800-252-5555 for assistance or additional information.

Important dates for this form include January 1 to December 31, 2024, and January 1 to December 31, 2025. Ensure timely filing to avoid penalties and interest. Check for any updates on tax rates imposed during these periods.

The primary purpose of the Texas Sales and Use Tax Return Form 01-117 is to report yearly sales and use tax for businesses operating within the state. This form helps ensure compliance with Texas state tax regulations and provides a standardized method for calculating and reporting tax liabilities. Additionally, this form is designed to accommodate businesses that have experienced local sales tax rate changes during the calendar year. By providing detailed instructions and worksheets, it aids taxpayers in determining applicable rates and accurately calculating the tax due. This ensures that all businesses are contributing their fair share to state revenue while maintaining compliance with local tax codes. Finally, the form serves as a record-keeping tool for both the taxpayer and the state. Properly completed forms provide a transparent history of tax filings, which can be useful in audits or future tax planning. The data collected also helps the state in economic planning and forecasting based on the reported sales and use tax figures.

• 1. Taxpayer number: A unique identifier assigned to each taxpayer for tracking purposes.
• 2. Filing period: The specific timeframe for which the tax return is being filed.
• 3. Outlet number/location: Details regarding the specific business outlet or location.
• 4. Total Texas sales: The total amount of sales made in Texas, recorded in whole dollars.
• 5. Taxable sales: The portion of total sales that is subject to sales tax.
• 6. Taxable purchases: The total amount of purchases made that are subject to use tax.
• 7. Total amount subject to tax: The combined total of taxable sales and purchases, used to calculate the tax due.
• 8. Tax rate: The applicable tax rate, which may vary based on location and other factors.
• 9. Tax due: The total tax amount calculated based on taxable sales and purchases.
• 10. Timely filing discount: A discount applied to the tax due for timely filing of the return.
• 11. Prior payments: Any previous payments made towards the tax liability.
• 12. Net tax due: The remaining tax amount due after applying discounts and prior payments.
• 13. Penalty and interest: Additional charges applied for late filing or payment of the tax.
• 14. Total amount due and payable: The final amount to be paid, including tax, penalties, and interest.

Failing to submit this form can result in various consequences, including financial penalties and legal implications. Ensure timely submission to avoid such issues.

• Penalties: Late submission can result in monetary penalties, increasing the overall tax liability.
• Interest: Accrued interest on overdue tax amounts compounds the total amount due.
• Legal action: Failure to comply with tax regulations may lead to legal proceedings initiated by the state.

• 1. Annual tax reporting: Businesses must report their annual sales and use tax using this form.
• 2. Local tax rate changes: Use this form if there have been changes in local sales tax rates within the reporting period.
• 3. Out-of-business declaration: Filing the form is necessary if the business has ceased operations during the reporting period.
• 4. Multiple outlets: Businesses with multiple outlets must report combined sales and use tax.
• 5. Prior payments: Include any prior payments made towards the tax liability in this form.