Home
Forms Library
2011 Tobacco Products Distributor Bad Debt Deduction For Uncollectible Wisconsin Tobacco Products Ta

2011 Tobacco Products Distributor Bad Debt Deduction For Uncollectible Wisconsin Tobacco Products Ta-2026

2011 Tobacco Products Distributor Bad Debt Deduction For Uncollectible Wisconsin Tobacco Products Ta Preview on Page 1

See details

4 out of 5

23 votes

The document provides instructions for completing Form TT-117, which is used by tobacco product distributors in Wisconsin to claim a bad debt deduction for uncollectible tobacco products taxes. It outlines eligibility criteria, necessary documentation, tax rates applicable to different types of tobacco products, and record-keeping requirements. The form must be attached to Form TT-100 and submitted for the month in which the bad debt was written off.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to use or fill out 2011 Tobacco Products Distributor Bad Debt Deduction For Uncollectible Wisconsin Tobacco Products Ta

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Click ‘Get Form’ to open it in the editor.
Begin by entering your Legal Name and Tax Account Number at the top of the form. Ensure these details are accurate as they are crucial for identification.
Fill in the Month/Year (MM YYYY) for which you are claiming the deduction. This helps in tracking your submissions effectively.
In the TAX RATES section, review the applicable tax rates based on the date of sale. Make sure to understand which rate applies to your products sold.
Proceed to list each uncollectible debt in Columns A through G. Include details such as Sales Invoice, Sold To, Type of Customer, and Date Wrote Off as Uncollectible.
Calculate the Uncollectible Tobacco Products Tax by multiplying Column E (Manufacturer’s List Price) by Column F (Tax Rate). Enter this amount in Column G.
Finally, total all amounts from Column G and enter this total on Form TT-100, line 16. Ensure all calculations are double-checked for accuracy.

Start using our platform today to streamline your form completion process for free!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is tobacco federally taxed?

In the United States, tobacco is taxed by federal, state, and local governments.

What can I itemize on my taxes?

If you itemize, you can deduct these expenses: Bad debts. Canceled debt on home. Capital losses. Donations to charity. Gains from sale of your home. Gambling losses. Home mortgage interest. Income, sales, real estate and personal property taxes.

Did the tobacco tax work?

You can only deduct ordinary and necessary business expenses under IRC section 162. Smoking is neither ordinary or necessary.

What is the tobacco tax in Wisconsin?

Health Win: Tobacco tax increases are one of the most effective ways to reduce smoking and other tobacco use, especially among kids. Nationally, every 10 percent increase in cigarette prices reduces youth smoking by about seven percent and total cigarette consumption by about four percent.

What are the benefits of the tobacco tax?

Tobacco taxes can benefit smokers who quit, reduce the overall consumption of tobacco, and put smoking cessation on the radar of those who continue to smoke.

Is tobacco tax deductible?

Federal taxes on tobacco and alcohol mainly aim to raise revenue for the government and discourage their consumption. These taxes serve as a financial resource while simultaneously promoting healthier behavioral choices among consumers.

Can nicotine be a tax write-off?

You typically cant deduct the cost of nonprescription drugs (except insulin) or other purchases for general health, such as toothpaste, health club dues, vitamins, diet food and nonprescription nicotine products.