What is the difference between a business privilege/mercantile annual return, a quarterly return, and a final reconciliation return?

• When referencing an “Annual Return”, we require the business’ prior year business revenue. (e.g., 2020 Business Privilege/Mercantile Annual Return will be based on 2019 gross receipts).
• When referencing a “Quarterly Return”, we require the business’ current year business revenue every three months. If your local municipality or school district employs this filing method, you are required to file 4 returns for the year listed on the return.
• Some local municipalities or school districts also require a “Final Reconciliation Return” with their quarterly returns. The business is to confirm they have reported the correct business revenue amount for the entire year and ensure they have paid their entire tax due amount from their 4 quarterly returns. 

Acceso business privilege and mercantile tax forms.