MI_5080

Line 5: Total Discount Allowed for Timely Filing and Payment. Discounts apply only to 2/3 (0.6667) of the sales

Monthly Filer

• If the tax is less than $9, calculate the discount bymultiplying the tax by 2/3 (.6667).
• If tax is $9 to $1,200 and paid by the 12th, or $9 to $1,800 and paid by the 20th, then enter $6.
• If the tax is more than $1,200 and paid by the 12th, calculate discount using this formula: (Tax x .6667 x .0075). The maximum discount is $20,000 for the tax period.
• If the tax is more than $1,800 and paid by the 20th, calculate discount using this formula: (Tax x .6667 x .0075). The maximum discount is $15,000 for the tax period.

Quarterly Filer

• If the tax is less than $27, calculate the discount by multiplying the tax by 2/3 (.6667).
• If tax is $27 to $3,600 and paid by the 12th, or $27 to $5,400 and paid by the 20th, then enter $18.
• If the tax is more than $3,600 and paid by the 12th, calculate discount using this formula: (Tax x .6667 x .0075). The maximum discount is $20,000 for the tax period.
• If the tax is more than $5,400 and paid by the 20th, calculate discount using this formula: (Tax x .6667 x .005). The maximum discount is $15,000 for the tax period.