Dealers whose taxable sales totaled $4 million or more for the 12-month period ending June 30, 2018 were required to make an accelerated retail sales and use tax payment in June 2019. In April, we mailed notifications to each dealer that met the $4 million threshold. In May, we sent another notification to dealers at all of their business locations with the specific amount of the tax due.
Accelerated sales tax payment deadline
- June 30* for electronic payments
- Checks postmarked by June 25, 2019
*Since June 30 was a Sunday, payments made on Monday, July 1, 2019 were considered on time
After making your payment
After making the accelerated payment, file your regular June return by July 20, 2019, and pay any difference between the actual June 2019 liability and the accelerated payment. If there is any remaining overpayment after the July payment, we will refund the amount.
If you missed the deadline
If you missed the deadline, you'll owe a 6% late filing penalty on the amount you were required to pay early. File your June return as usual, and we will mail you a bill in August for penalty owed. If you don’t pay the penalty bill on time, interest will begin to accrue.
For example, if you were required to make an accelerated payment of $10,000, but did not make the payment on time, you will receive a one-time penalty assessment for $600 ($10,000 x 6%). If you do not pay the $600 penalty by the date stated on the bill, interest will start to accrue.
If you pay less than the amount due, the 6% penalty will apply to the underpayment. For example, if the required accelerated payment amount was $10,000 and you paid $8,000 by the due date, the penalty will apply to the underpayment of $2,000. You will be assessed $120 ($2,000 x 6%).