New York Form ST-124

Understanding NYS Form ST-124

The New York State ST 124 form, also known as the Certificate of Capital Improvement, is an essential document for taxpayers who have made substantial alterations to their properties. This New York form template serves a very specific purpose. It is used to certify that a particular service has created a capital improvement on a property. 

This is an important form for New York State residents because it defines the tax responsibilities for both the property owner and the service provider. Essentially, the form states that the work done on the property is not taxable as a sale, and therefore, the contractor does not have to charge sales tax to the property owner for the services provided.

Importance of the ST-124 form

The implications of the form ST 124 New York are significant. Without it, contractors might inadvertently charge sales tax on services that should be tax-exempt under the capital improvement clause. This could lead to overpayment of taxes by property owners and a need for potential refunds. 

On the other side, if a contractor does not charge sales tax when they should, they could face penalties from the New York State Department of Taxation and Finance. Accurate completion of this form ensures that both parties adhere to state tax regulations.

How to Fill Out Form ST 124

When contemplating completing this New York form, one must take the time to meticulously enter all required information. Then, you may follow these key form ST 124 instructions:

1. Begin by entering the full legal name of your contracting business where it requests the contractor's information.
2. Input the complete legal name of your client where the customer's details should be provided.
3. Record the full street address of your client's primary location.
4. Proceed to fill in the street address associated with your contracting business.
5. For both the customer and contractor fields, include the city, state, and ZIP code pertinent to each corresponding address.
6. If applicable, enter your Sales Tax Certificate of Authority number.
7. Under the customer's area of responsibility, provide a detailed account of the capital improvement project that will be undertaken.
8. Specify the official project name that identifies the capital improvement endeavor.
9. Detail the exact street address of the location where the capital improvement project will occur.
10. Indicate the city, state, and ZIP code of the property that's undergoing improvements.
11. Confirm the client's role in connection with the property by marking either 'owner' or 'tenant.'
12. The customer must also verify whether the contractual agreement includes or excludes the sale of items that are not permanently affixed to the real property.
13. Request that the customer applies their signature, lists their official title or position if applicable, and records the current date, thus attesting to the accuracy of the provided information.
14. Complete the form by signing as the contractor or authorized officer on behalf of your contracting business, entering your title within the company, and dated the document to formalize the declaration.

Form ST 124 New York online filing

Thanks to PDFliner, filling out and filing your New York state tax form ST 124 has never been easier. PDFliner addresses this issue by offering an intuitive platform where you can fill out Form ST 124 online without the need for physical paperwork. With PDFliner, you can type directly into the form, ensuring clarity and reducing the chances of errors that can occur with handwritten entries. Also, on the PDFliner website, you may find other New York tax form templates.