Why was my Gross Receipts Filing Threshold Credit adjusted?

If the Gross Receipts Filing Threshold Credit was adjusted on a Unitary Business Group (UBG) return, please review the following information:
  • The following forms are required to be filed to claim the Gross Receipts Filing Threshold Credit as a UBG: Form 4567, Form 4568, Form 4571, and Form 4580. If any of these forms are missing, the credit will be denied. A complete amended return, including all forms, schedules and attachments, must be filed in order to correct the original return.

  • To be eligible to claim the Gross Receipts Filing Threshold Credit, apportioned gross receipts must be equal to or greater than $350,000 but less than $700,000.

  • Gross receipts before eliminations should be reported on the “Gross Receipts” line of Form 4571. For each member of the UBG, gross receipts before eliminations can be found on Form 4580, Part 2B, Column A (annualized if applicable). Enter on Form 4571, the sum of all members’ 12-month basis gross receipts before eliminations.

  • For purposes of the Gross Receipts Filing Threshold Credit, gross receipts before eliminations must be annualized for each member with a tax period of less than 12.

If the Gross Receipts Filing Threshold Credit was adjusted on a Single Entity return, please
review the following:

  • The following forms are required to be filed to claim the Gross Receipts Filing Threshold Credit as a Single Entity: Form 4567, Form 4568, and Form 4571. If any of these forms are missing, the credit will be denied. A complete amended return, including all forms, schedules and attachments, must be filed in order to correct the original return.

  • To be eligible to claim the Gross Receipts Filing Threshold Credit, apportioned gross receipts must be equal to or greater than $350,000 but less than $700,000.

  • For purposes of the Gross Receipts Filing Threshold Credit, gross receipts must be annualized for tax periods less than 12 months.