Texas 117 2019-2025 Form

What is the Form 01 117 Texas

The Texas Form 01 117 is a sales tax exemption certificate used by businesses and individuals in Texas to claim exemption from sales tax on purchases. This form is essential for those who qualify for tax-exempt status under specific circumstances, such as non-profit organizations, government entities, or certain types of sales. Understanding the purpose and application of this form is crucial for ensuring compliance with Texas tax regulations.

How to use the Form 01 117 Texas

To use the Texas Form 01 117 effectively, the individual or business must complete the form accurately, providing all required information, including the purchaser's name, address, and the reason for the exemption. After filling out the form, it should be presented to the seller at the time of purchase. This allows the seller to validate the exemption and avoid charging sales tax on the transaction. It is important to retain a copy of the completed form for record-keeping and compliance purposes.

Steps to complete the Form 01 117 Texas

Completing the Texas Form 01 117 involves several key steps:

• Begin by entering the purchaser's name and address in the designated fields.
• Indicate the reason for the exemption by selecting the appropriate category from the provided options.
• Include the seller's name and address to ensure clarity in the transaction.
• Sign and date the form to certify that the information provided is accurate and truthful.
• Make a copy of the completed form for your records before submitting it to the seller.

Legal use of the Form 01 117 Texas

The legal use of the Texas Form 01 117 is governed by state tax laws. This form must be used only by eligible purchasers who meet the criteria for tax exemption. Misuse of the form, such as providing false information or using it for ineligible purchases, can result in penalties, including fines and back taxes owed. It is essential to understand the legal implications and ensure that the form is used appropriately to maintain compliance with Texas tax regulations.

Key elements of the Form 01 117 Texas

The Texas Form 01 117 includes several key elements that are essential for its validity:

• Purchaser Information: Name and address of the individual or organization claiming the exemption.
• Seller Information: Name and address of the seller where the purchase is being made.
• Reason for Exemption: A clear indication of the category under which the exemption is claimed.
• Signature and Date: The form must be signed and dated by the purchaser to validate the exemption claim.

Who Issues the Form

The Texas Form 01 117 is not issued by a specific agency but is a standardized form provided by the Texas Comptroller of Public Accounts. Businesses and individuals can obtain this form from the Comptroller's official website or through authorized tax professionals. It is important to ensure that the most current version of the form is used to comply with Texas tax regulations.