Revenue Procedure 2021-33 requires employers to apply the safe harbor consistently for determining eligibility for the ERC. Restaurant Revitalization Grants under the American Rescue Plan Act of 2021.Īn employer elects to apply the safe harbor by excluding these amounts solely for determining whether it is an eligible employer for a calendar quarter for purposes of claiming the ERC on its employment tax return.
Shuttered Venue Operators Grants under the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act and.The amount of the forgiveness of a Paycheck Protection Program (PPP) Loan.
#Receipts 2021 august pdf#
Revenue Procedure 2021-33 PDF provides a safe harbor permitting employers to exclude certain amounts from gross receipts solely for determining eligibility for the ERC.
#Receipts 2021 august license#
Motor vehicle usage tax collections rose 5.8 percent while motor fuels revenues grew 3.3 percent. Road Fund revenue grew 5.3 percent in August with revenues of $148.3 million and have increased 2.8 percent for the first two months of the fiscal year. Lottery dividends rose 15.4 percent to $22.5 million in August and are up 15.6 percent through the first two months of FY21.Coal severance tax collections in August fell 15.5 percent to $3.5 million but are up 15.3 percent through the first two months of the fiscal year.Large swings in receipts are not unusual early in a fiscal year for the property tax accounts. Property tax receipts rose 16.3 percent in August and have increased 8.0 percent for the fiscal year.Cigarette tax receipts rose 17.0 percent for the month but have declined 6.7 percent for the year.Year-to-date receipts in these accounts have increased 207.3 percent, or $45.8 million. Corporation income tax and LLET collections grew 245.2 percent for the month, an increase of $11.9 million compared to prior year totals.The sales tax has posted growth in 13 of the last 14 months since the end of the recession in 2020. Sales tax revenues grew 11.7 percent in August and are up 9.4 percent through the first two months of the fiscal year.Withholding receipts improved by $27.6 million compared to last August. Individual income tax collections rose 10.3 percent as the three main components of the tax all increased.Through the first two months of the fiscal year, collections in this fund have increased 2.8 percent. Road Fund receipts for August totaled $148.3 million, an increase of 5.3 percent from August 2020 levels. The Consensus Forecasting Group met in August to begin the process of revising the FY22 estimate and forecasting revenues for the upcoming biennium. Based on Augusts’ results, receipts can decline by 10.6 percent for the remainder of the fiscal year and still meet the official estimate. The official revenue estimate for FY22 calls for General Fund revenues to fall 7.7 percent compared to FY21 actual receipts. So far this fiscal year (FY22), General Fund receipts have increased 10.4 percent. Total revenues for the month were $937.7 million, compared to $833.8 million during August 2020. The General Fund receipts increased 12.5 percent in August compared to last year.
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