What if a seller does not obtain an exemption certificate within 90 days after the date of the sale and does not capture and maintain the data elements described in Question 3?
If a seller did not obtain an exemption certificate as described in Question 2, above, or the relevant data elements described in Question 3, above, the seller may, within 120 days after it is requested by the Department of Revenue to substantiate a claimed exemption, either obtain, in good faith, a fully completed exemption certificate from the purchaser; or by some other means provide proof that the transaction was not subject to Wisconsin sales or use tax. If the seller cannot prove that a transaction was exempt by one of these methods, the seller is not relieved from liability for the tax, interest, or penalties. A seller accepts an exemption certificate in good faith if the exemption certificate is fully completed and claims an exemption that (a) was authorized by law on the date of the transaction in the jurisdiction to which the transaction was sourced, (b) could be applicable to the property, item, good, or service being purchased, and (c) is reasonable for the purchaser’s type
Related Questions
- What do we do with a completion certificate if a student takes 20-30 days to obtain and provide the required Student Affidavit to us?
- How can the public obtain additional information on the new Certificate of Use (CU) for the sale of foreclosed properties?
- Where can the seller obtain the TTD form, besides directly from the Bulk Sale Unit of the Division?
