Navigating the waters of tax-exempt sales and the proper documentation can be very tricky. Oftentimes the leading cause of large assessments in audits comes from missing or invalid sales and use tax exemption certificates.
Read MoreMany companies and individuals inadvertently pay sales tax on purchases that might have in fact been exempt by presenting an exemption certificate to the seller. An exemption certificate is presented by the purchaser to the seller to keep from having to pay sales tax on a purchase. Each state has different laws regarding exemptions but in general, exemptions are based on four main things.
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