St 124 form 2025

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The document ST-124 is a Certificate of Capital Improvement issued by the New York State Department of Taxation and Finance. It outlines the process for customers and contractors to certify that certain construction work qualifies as a capital improvement, which is exempt from sales tax. The form must be completed and signed by both parties, detailing the project and ensuring compliance with specific criteria for capital improvements. It also provides guidelines on tax responsibilities related to building materials and labor, emphasizing the importance of proper documentation to avoid tax liabilities.

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Click ‘Get Form’ to open the ST-124 form in the editor.
Begin by entering the 'Name of customer' and 'Name of contractor' in the designated fields. Ensure that you print or type clearly for accuracy.
Fill in the addresses for both the customer and contractor, including city, state, and ZIP code. This information is crucial for identification.
In the section labeled 'To be completed by the customer', describe the capital improvement to be performed. Include details such as project name and street address where work will occur.
Mark whether you are the owner or tenant of the property and indicate if your project includes any tangible personal property that does not become a permanent part of real property.
Both parties must sign and date the form at their respective sections to validate it. Ensure all entries are complete before submission.

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What qualifies as a capital improvement in NY state?

It substantially adds to the value of the real property, or appreciably prolongs the useful life of the real property. It becomes part of the real property or is permanently affixed to the real property so that removal would cause material damage to the property or article itself.

What is the purpose of the ST 124?

Form ST-124 is used to claim exemptions from sales tax for certain improvements. Heres what its used for: to document qualifying capital improvements. to provide proof for tax exemptions.

What qualifies as a capital improvement?

Heres a list of some of the exemptions on sales tax in New York: Services are generally exempt, unless specifically taxable. Certain groceries. Menstrual hygiene products. Newspapers and periodicals. College textbooks. Over-the-counter and prescription drugs and medicines.

What is NYS Form ST 124?

If you are the customer and the work being performed will result in a capital improvement, fill out Form ST-124, Certificate of Capital Improvement, and give it to the contractor. You must give the contractor a properly completed form within 90 days after the service is rendered.