Reporting
8 entries in this section. Every term is a link — open one for the full definition, its sources, and related entries.
- Amended return A corrected return for a period already filed. The TPT-2 marks it with a checkbox rather than a separate form.
- Business code The number on the return that says which classification income is being reported under. For a contractor it is the difference between taxing a contract and taxing materials.
- Deduction code The number that identifies which deduction is being claimed on Schedule A. A deduction without a code is not a deduction.
- Filing period How often a return is due. Set by expected annual liability, and the due date is not the delinquency date.
- Job-site rate The combined rate in force where the work is performed. It follows the project, not the contractor.
- Location-based reporting Reporting income to the jurisdiction it belongs to. For a contractor that is the job site, which is usually not the business's own location.
- No gross receipts A licensed contractor files every period, including periods with nothing to report. The return has a box for it.
- Sourcing Deciding which jurisdiction an amount belongs to. In contracting it follows the work, with two named exceptions.