does everyone have one?
2007-11-25 05:10:41 · 6 answers · asked by nehelenia75 2 in Business & Finance ➔ Taxes ➔ United States
and does anybody know how to get one?
2007-11-25 05:22:57 · update #1
There is no such thing as a federal tax exemption number. There are non-profit and charitable organizations that are exempt from federal income tax but they have no special number. They will have the same kind of federal tax identification number that any business has. States with sales tax will issue sales tax account numbers. Holders can purchase merchandise wholesale for resale at retail without paying sales tax because they have to collect tax on the sale to the ultimate consumer. They do not get an exemption from tax for merchandise the business uses for itself.
2007-11-25 06:57:26 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Tax exempt is normally for government agencies, and charitable groups. The exemption number is given to you when and if you qualify for the exemption. When you shop, you will fill out the exemption form each time, and show them your number, and the card, and not pay tax on the purchases.
I think there is also another reduced type of number for people who resell items, for example a restaurant that buys whole sale at Costco, them uses the items at there restaurant to make money.
2007-11-25 05:20:24 · answer #2 · answered by Nifty Bill 7 · 0⤊ 0⤋
The IRS issues 501(c)3 letters. Tax exemption numbers are issued by the state to eligible organizations.
2007-11-25 07:22:20 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
A federal tax exemption # is given to organizations that are non-profit or religious organizations. It basically means that they are exempt from paying certain taxes. Not everyone has one.
2007-11-25 05:19:41 · answer #4 · answered by Elsie 5 · 0⤊ 0⤋
Population development within the US is SHRINKING should you hadn't spotted. Right now it's at a degree too low to preserve the Social Security procedure. Additionally, bringing extra taxpayers on-line -- i.e. having kids -- will finally support INCREASE tax sales, now not minimize them. And if you do not purchase the ones arguments, recollect that the exemptions for youngsters are such an ingrained side of the American Way that dumping them could be regarded as decidedly UN-American and could be rejected via the general public practically universally.
2016-09-05 13:55:41 · answer #5 · answered by devita 4 · 0⤊ 0⤋
It is a number issued by the government for non-profit groups for making purchases. When the number is presented and correct paper work is filled out businesses will not charge the organization that has been issued the number sales tax.
2007-11-25 05:20:10 · answer #6 · answered by SL1Y 2 · 0⤊ 0⤋