Resale Agreement Format In Bronx
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Ing to New York tax laws, any time you want to start selling anything as a business, you must get a reseller certificate -- known as a Certificate of Authority. A Certificate of Authority gives you the right to collect sales tax.
A certificate authority (CA), sometimes called a certification authority, is an entity that validates the digital identity of websites, email addresses, companies, or individual persons. They do this using cryptographic assets called digital certificates, which provide a way to prove authenticity.
If you will be making sales in New York State that are subject to sales tax, you must register with the Tax Department and obtain a Certificate of Authority.
Renewal of Sales Tax Certificate of Authority Renewal is mandatory for all registered sales tax vendors. If you fail to renew your certificate before the expiration date on your letter, it will be illegal for you to conduct any business subject to New York State sales and use tax law.
How to fill out the New York State Sales Tax Resale Certificate ST-120? Enter the seller and purchaser names and addresses. Select either a single-use or blanket certificate. Certify that the information provided is accurate. Include the valid Certificate of Authority number.
This can be done online through the state's Business Wizard portal and should be completed 20 or more days before you begin making taxable sales in New York. Complete Form DTF-17, Application to Register for a Sales Tax Certificate of Authority, and the certificate will be mailed to you within five business days.
The Certificate of Authority gives you the right to collect tax on your taxable sales and to issue and accept most New York State sales tax exemption certificates. Generally, the seller collects the tax from the purchaser and remits it to New York State.
While a resale certificate itself doesn't expire, a certificate of authority is valid for a maximum of three years and is “renewable at the discretion of the Department of Taxation and Finance."
