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Business Taxes Law Guide—Revision 2024
Uniform Local Sales and Use Tax Annotations
702.0000 Transmittal, Limitation, Redistribution of Local Tax
Annotation 702.0500
702.0500 Offset Portion. Section 7204.1(a)(4) defines "offset portion" as the greater of $50,000 or "20 percent of the local agency's quarterly taxes." No method of determining the "quarterly taxes" is specified. Since a city presumably bases its request for offset treatment on the most recent revenue stream, it is reasonable to calculate the offset portion using the average of the last four quarterly collections. 8/12/97. (M98–3).