NY ST-123 2014 free printable template

ST-123 New York State Department of Taxation and Finance New York State Sales and Use Tax IDA Agent or Project Operator Exempt Purchase Certificate (2/14) Effective for projects beginning on or after

How to fill out NY ST-123

How to fill out NY ST-123

1. Obtain the NY ST-123 form from the New York State Department of Taxation and Finance website or your local tax office.
2. Fill in the name and address of the purchaser in the designated fields.
3. Indicate the type of exemption you are claiming by checking the appropriate box.
4. Provide a description of the items or services being purchased.
5. Include the reason for the tax exemption in the specified area.
6. Sign and date the form at the bottom.
7. Submit the completed form to the seller of the goods or services.

Who needs NY ST-123?

1. Businesses or organizations that qualify for sales tax exemptions in New York, such as exempt entities, religious organizations, or government agencies.

Instructions and Help about NY ST-123

Before you begin business in New York State there are certain things you need to know about your sales tax responsibilities for example anyone who plans to sell taxable goods or services in New York State must register as a sales tax vendor with the tax department at least 20 days before beginning business once registered you will receive a certificate of authority to collect sales tax you will then be responsible for collecting sales tax from your customers and forwarding the tax to the tax department you must never use the sales tax you collect to pay off business or personal expenses to avoid this we recommend that you maintain a separate bank account for your sales tax receipts this will ensure that you're able to pay the sales tax when do you must also begin filing sales tax returns even if you've not made any sales or begun business it's important that you file and pay the sales tax on time you must file a sales tax return by its due date even if you have no tax due, or you may be charged a penalty for late filing good record-keeping is essential for any business and as a sales tax vendor you must keep accurate records of all sales and purchases that you make keeping detailed records of your business operation will help you prepare accurate and complete sales tax returns in the event of an audit you will be asked to produce these records to verify the accuracy of your returns it's important that you know the tax ability of your sales so if you're uncertain of your sales tax obligations you should consult the tax professional if you don't collect sales tax on sales that are taxable you may be responsible for paying those taxes yourself an easy way to manage many of your sales tax responsibilities is with an online service account with an online service account you can web file sales tax returns make payments receive email notifications and view and pay tax bills if you plan on taking over an existing business be sure to check out our buying a business web page to learn more about your sales tax responsibilities and to create an online service account visit us today at with in guv

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What is NY ST-123?

NY ST-123 is a form used in New York State for claiming sales tax exemptions for certain purchases made by exempt organizations.

Who is required to file NY ST-123?

Organizations that qualify for sales tax exemptions under New York State law, such as certain not-for-profits, educational institutions, and governmental entities, are required to file NY ST-123.

How to fill out NY ST-123?

To fill out NY ST-123, you need to provide the organization's details, including its name, address, and exemption number, as well as the details of the purchase and the reason for the exemption.

What is the purpose of NY ST-123?

The purpose of NY ST-123 is to document and provide proof for tax-exempt purchases made by eligible organizations, ensuring compliance with state tax regulations.

What information must be reported on NY ST-123?

NY ST-123 must include the name and address of the purchaser, the nature of the organization, the tax exemption number, a description of the property or service purchased, and the date of the purchase.