Five Mistakes Companies Make In Managing Customer-Provided Exemption Certificates (Is Your Company Guilty?)

General Business

January 23, 2017
by Linda Feirn, CPA

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Linda Feirn Linda Feirn, CPA
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I often use the phrase “get out of jail free card” when discussing tax matters. Of course, sales tax is not a Monopoly game (it’s much more serious), but if ever there was a “get out of sales tax jail free card,” it’s the exemption certificate you take from your customer to support the fact that your invoice has no sales tax on it. Too often, exemption certificates take a back seat in a company’s sales tax compliance procedures, when a proper system can protect the company from significant liability.


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