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D.C. Municipal Regulations (Last Updated: September 13, 2017) |
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Title 9. TAXATION AND ASSESSMENTS |
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Chapter 9-35. GROSS RECEIPTS TAX |
Section 9-3504. GROSS RECEIPTS TAX ON TELECOMMUNICATION COMPANIES: OCTOBER 1, 1987 AND SUCCEEDING MONTHS
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3504.1For each calendar month beginning after September 30, 1987, the affidavit is due and the tax payable by the twentieth (20th) day of the month following the calendar month for which the tax is due.
3504.2Each telecommunication company shall be allowed a credit against the gross receipts tax imposed for the lesser of one of the following:
(a)Nine-twelfth (9/12) of the amount of personal property tax paid with the tax year 1988 return due by July 31, 1987; or
(b)Nine-twelfth (9/12) of the amount of personal property tax paid with the tax year 1988 return due by July 31, 1987, multiplied by the following fraction:
Column (1)
Column (2)
Column (3)
Column (4)
9/12 of 1988 District per-sonal Property tax paid
X
Receipts on which District gross re-ceipts tax was paid for twelve months preceding July 1, 1987
X
Value of personal property every where July 1 of Column (1) tax year
=
Credit against Column (1) tax not to exceed limits of this section
Gross receipts every-where for twelve months preceding July 1, 1987
Value of property sub-ject to District per-sonal property tax on July 1 of Column (1) tax year
The following are examples of the application of § 3504.2:
(1)The taxpayer has property valued at one hundred thousand dollars ($100,000) subject to District personal property tax, and personal property everywhere of one million dollars ($1,000,000) on July 1, 1987. The taxpayer's gross receipts everywhere for the twelve (12) month period ended June 30, 1987, are twelve million dollars ($12,000,000), and receipts subject to District gross receipts tax under § 3501 are one million dollars ($1,000,000). District personal property tax paid for the 1988 tax year was three thousand one hundred dollars ($3,100). The amount of the credit allowed on monthly gross return due November 20, 1987 shall be one thousand nine hundred thirty-eight dollars ($1,938), computed as follows:
(1)
(2)
(3)
(4)
$2,325
$1,000,000
X
$1,000,000
=
$1,938
$12,000,000
$100,000
(2)Same facts as example (1) except that receipts subject to District gross receipts tax was one million four hundred thousand dollars ($1,400,000). The allowable credit is two thousand three hundred twenty-five dollars ($2,325), computed as follows because that amount is the lesser of:
(a)The result of the computation below; and(b)Gross receipts taxes paid for the twelve (12) months preceding July 1, 1987.
(1)
(2)
(3)
(4)
$2,325
X
$1,400,000
X
$1,000,000
=
$2,713
$12,000,000
$100,000
3504.3As used in § 3504.2, the term "value of personal property" shall mean, for both the numerator and denominator of the fraction, that amount carried on the taxpayer's balance sheet at original cost for the personal property shown in the fraction.
3504.4The numerator and denominator of Column (3) property values shall include all property subject to the personal property tax under the provisions of the Personal Property Tax Amendment Act of 1986, effective February 28, 1987 (D.C. Law 6-212; D.C. Code § 47-1521 et seq.) without regard for any exemption from the tax.
3504.5The credit provided in this section shall reduce the tax due each month under this section until the credit, in the aggregate, has been exhausted.