Reporting the business and occupation tax

One of the major taxes reported on the excise tax return is the business and occupation (B&O) tax, calculated on a business' gross receipts. Income from the care of children under the age of 18 years is taxable under the Child Care B&O tax classification. If the B&O tax due is below certain amounts, you are entitled to the small business B&O tax credit. This credit may reduce or eliminate your B&O tax liability. These amounts are:

Monthly - $71
Quarterly - $211
Annually - $841