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HomeMy WebLinkAboutTracFone Calculation of Renton Refund Due - RCW interest and penalties onlyTax Year 2007 2008 2009 2010 2011 2012 2013 Total TRS Original TRS "Corrected" Renton Utility Tax on Retail 1,254.30$ 1,838.22$ 2,662.92$ 4,343.04$ 5,693.94$ 6,999.66$ 3,320.88$ 26,112.96$ 30,325.02$ 26,112.96$ Renton Utility Tax on Wholesale 5,714.20$ 8,975.01$ 12,130.92$ 21,204.21$ 21,419.71$ 22,165.64$ 8,978.59$ 100,588.25$ 116,783.70$ 100,588.25$ Total Tax 6,968.50$ 10,813.23$ 14,793.84$ 25,547.25$ 27,113.65$ 29,165.30$ 12,299.47$ 126,701.21$ 147,108.72$ 126,701.21$ Interest Periods 2008 6.41% 2009 5%4.58% 2010 3%3%2.75% 2011 3%3%3%2.75% 2012 2%2%2%2%1.83% 2013 2%2%2%2%2%1.83% 2014 2%2%2%2%2%2%1.83% 2015 2%2%2%2%2%2%2% 2016 2%2%2%2%2%2%2% 2017 3%3%3%3%3%3%3% 2018 3%3%3%3%3%3%3% Interest through 11/04/2019 3.36%3.36%3.36%3.36%3.36%3.36%3.36% Interest Factor 36.77%29.94%25.11%22.11%19.19%17.19%15.19% Interest Amount 2,562.32$ 3,236.98$ 3,714.02$ 5,647.27$ 5,203.15$ 5,013.56$ 1,868.31$ 12,085.01$ 152,556.67$ 86,810.02$ 34% Penalty 43,078.41$ 36,777.30$ 31,675.46$ Amount due as of 11/4/19 if subject to utility tax on Retail and Wholesale airtime and no margin adjustment 181,864.63$ 336,442.69$ 245,186.69$ Amount Paid 336,442.69$ 336,442.69$ 11/5-12/21/2019 2020 4%Refund Due before Refund Interest 154,578.06$ (91,256.00)$ 1/1 to 5/27/2021 1.04% Refund interest to hearing date 5.04%Less Refund Paid (91,256.00)$ Per diem rate 0.01%Add'l Refund Due before Refund Interest 63,322.06$ Refund Interest 11/5/2019 to 05/27/2021 3,191.43$ Subtotal 66,513.50$ Per diem interest after 5/27/2021 5.20$