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The resale exemption is the most common use based exemption. Other use based exemptions could be items or services to be used in manufacturing, research & development, or teleproduction. Entity based exemptions are when the item or service is exempt solely because the purchaser falls into a category the state has granted an exempt status.
Periodic review of record-keeping procedures related to sales and use tax. Proper supporting detail, including exemption and resale certificates, invoices and other records must be available to defend the company in the event of a sales and use tax audit. Without proper documentation, a seller may be held liable for tax not collected from a ...
Resale - Resale certificates are the most commonly used of the sales tax exemption certificates. Sales taxes are applied to retail sales and so sales for the purpose of reselling are exempt to avoid double taxation. Reselling and wholesaling account for $844 billion of the American GDP, or 3.3%. [14]
The ARA also mentioned difficulty keeping up with various sales tax exemption certificates and the threat of audits for agricultural retailers. [ 66 ] National Center for Policy Analysis (NCPA), a nonprofit, nonpartisan public policy research organization expressed concern that the Marketplace Fairness Act punishes sellers by requiring them to ...
In March 2021, Connecticut state bill, SB-127 (the EV Freedom Bill), that would allow all EV makers to sell directly to their customers, passed out of the General Assembly's Transportation Committee and awaited a vote by the full state house and senate. [90] [91] The Session Year 2022 bill was Senate Bill number 214. [92]
A federal appeals court on Friday upheld a 2021 Connecticut law that eliminated the state’s longstanding religious exemption from childhood immunization requirements for schools, colleges and ...