Tax Exempt Form

[T BIRD]

If I go to Costco or Sam's Club and buy candy for my machines, do I have to pay tax on this?

 

If not, how do I go about obtaining a tax exempt form?

[caserri]

John,

You are going to owe me now!  Get your reading glasses out! Here is the info you want...

If you live in a state that collects sales tax on these items, I am not sure if you would want to purchase "Tax Exempt" because technically you are not charging the customer sales tax either. The purpose of a tax exempt form is so the state does not receive sales tax twice for the same item. Since you are not charging or collecting sales tax from your customers, that sales tax has to come from you when you originally purchase the product. If you purchase tax exempt, then you must collect, report and pay sales tax later. In the end, the state still receives the sales tax revenue from you. Either by you paying it at the Costco register or by you collecting it from the customer and reporting it later. I could be wrong and if I am, then here is the required info for you...

Once you get your valid "Certificate of Authority" using the instructions below, you can print this form and fill it out and present it to the seller. (Costco) ==>

http://www.faberinc.com/sales/Tax/NY%20ST121%20Exempt%20Use.pdf

To obtain a Certificate of Authority, you must file form DTF-17 “Application for Registration as a Sales Tax Vendor†with the NYS Department of Taxation and Finance at 20 days but no more than 90 days before you begin operating your business.  If your application is approved, your Certificate of Authority will be mailed to you.  You cannot legally conduct business until you have received your valid Certificate of Authority.  To order forms and publications, call 1-800-462-8100.  For general business tax information, call 1-800-972-1233. 

The Signed Application Must Be Mailed to:

New York State Tax Department,

Sales Tax Registration Unit

W A Harriman Campus

Albany, NY 12227

Here is a link to the application form DTF-17 ==> http://www.tax.state.ny.us/pdf/2007/fillin/st/dtf17_407_fill_in.pdf

Here is a link to the instructions for this form. ==> http://www.tax.state.ny.us/pdf/2007/st/dtf17i_407.pdf

Steve

[T BIRD]

Geez!......I am exhausted sifting thru all of this.  I do not pay sales tax in my state for the vending machines I own.  Mr. Folz took care of that for me. So........I am gonna forget it.

 

I appreciate you putting all this up here for me Steve!!  When the weather gets better, I will crusie on up there and we will have lunch!   OK? 

[caserri]

Just make sure you leave your Giants Super Bowl T-shirt at home brotha!

Is it March 3rd yet!

Steve

[tedk]

No Steve... you can wear it for two more weeks