MTO Form 5086: 2015 Vehicle Dealer Supplemental Schedule InstructionsThis schedule must be filed with your 2015 Sales Use and Withholding Taxes Monthly/Quarterly Return (Form 5080) or 2015 Sales, Use and Withholding Taxes Amended Monthly/Quarterly Return (Form 5092).
Use this supplemental schedule to calculate your sales tax discount on sales tax paid to the Secretary of State. The discount is limited to the 4% tax rate. You may not take discount on the full tax paid to Secretary of State.
The discount calculated on line 4 will be carried to line 5a of Form 5080 or Form 5092.
NOTE: Sales tax paid to Secretary of State cannot be taken as a deduction when calculating total sales tax.
Line 1: Enter the total sales price less trade in discount for all vehicles on which tax was paid to the Secretary of State.
Lines 2-4: Lines 2-4 are pre-populated based on information entered into line 1. Line 2 and line 4 will automatically carry forward to lines 3a and 5a on Form 5080 or Form 5092.
NOTE: The total combined discounts reported on line 5a on Form 5080 or Form 5092 cannot exceed $20,000 for non-accelerated filers. This amount will be added to any discount entitled to claim for payment of tax on Form 5080 or Form 5092.