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I am registered as a CAT taxpayer and my taxable gross receipts will be below $150,000 for the calendar year. Do I have to pay the minimum tax for that calendar year?

April 26, 2017calendar cat gross pay receipts registered taxable taxpayer year

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I am registered as a CAT taxpayer and my taxable gross receipts will be below $150,000 for the calendar year. Do I have to pay the minimum tax for that calendar year?

1 Answer

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Businesses that will have less than $150,000 in taxable gross receipts for the calendar year are not subject to the tax. However, you must cancel your registration by May 10 of that year to not be subject to the minimum tax.