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Official R 1042 Louisiana Certificate Template in PDF

The R 1042 Louisiana Certificate is a Sales Tax Exemption Certificate used by purchasers to claim exemption from sales tax on items bought for resale. This form requires detailed information about the purchaser and the nature of their business, ensuring compliance with Louisiana tax laws. To streamline your purchasing process, consider filling out the form by clicking the button below.

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Structure

Document Overview

Fact Name	Details
Form Title	R-1042 Louisiana Resale Certificate Sales Tax Exemption Certificate for Purchases for Resale
Governing Law	R.S. 47:301(10) of the Louisiana Revised Statutes
Purpose	This form certifies that purchases are intended for resale, allowing buyers to avoid sales tax on those items.
Purchaser Information	Includes details such as the purchaser's name, sales tax account number, address, and type of business.
Seller Information	Requires the seller's address, ensuring that the transaction can be properly documented.
Liability Clause	The purchaser assumes full liability for any taxes due if the items are not resold as intended.

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Detailed Steps for Writing R 1042 Louisiana Certificate

After gathering all necessary information, follow these steps to complete the R 1042 Louisiana Certificate form. Ensure that all details are accurate to avoid any issues.

Begin by entering the Name of purchaser in the designated space. This should match the name on your sales tax account.
Next, fill in your Sales Tax Account Number. This number must be 10 digits long.
Provide the Address of the purchaser, including street number and name.
Enter the Telephone number, including area code, in the appropriate field.
Complete the City, State, and ZIP code sections.
Indicate the Purchaser’s Type of Business by selecting the appropriate option.
Describe the purchaser’s business activity or items sold in the provided space.
Sign the form in the Purchaser’s Declaration section. Include your Title and the Date in mm/dd/yyyy format.
Finally, fill in the Seller Information by providing the seller's address, city, state, and ZIP code.

Form Preview

R-1042 (10_08)

Louisiana Resale Certificate

Sales Tax Exemption

Certificate for Purchases for Resale

R.S. 47:301(10)

Please print or type.

	Purchaser Information

Name of purchaser, as shown on the sales tax account		Sales Tax Account Number (10 digits)

Address			Telephone
			(	)

City					State	ZIP

Purchaser’s Type of Business

Description of purchaser’s business activity or items sold:

I, the purchaser, certify that all materials, goods, merchandise, and services purchased from the seller named below are for resale as tangible personal property, either in the same form as purchased or to be added as a recognizable, identifiable, and beneficial component of a new product. I further certify that all tax-exempt purchases will be resold in the normal course of our business.

I understand that if I use any of the items other than for resale, I must pay sales tax at the time of use. If this purchase is later found to be subject to tax, I, the purchaser, assume full liability for the tax.

Seller Information

Seller

Address (Street & number or P.O. Box)

City

State

ZIP

Any purchaser or agent who fraudulently signs this certificate without intent to use the taxable items for resale is subject to all the penalties provided for by Title 47 of the Louisiana Revised Statutes and collection will be pursued against the seller or purchaser for any taxes, penalties and interest due.

Purchaser’s Declaration

Name

Signature

Title

Date (mm/dd/yyyy)

Misconceptions

Understanding the R 1042 Louisiana Certificate form is crucial for businesses engaged in resale activities. However, several misconceptions can lead to confusion. Here are five common misunderstandings:

Misconception 1: The R 1042 form is only for large businesses.

This is not true. The form is applicable to any business, regardless of size, that purchases items for resale. Small businesses can benefit just as much from using this certificate.

Misconception 2: You can use the R 1042 form for personal purchases.

This is incorrect. The form is specifically for items bought for resale in the course of business. Personal purchases do not qualify for tax exemption under this certificate.

Misconception 3: Once you submit the R 1042 form, you are exempt from all taxes.

This is misleading. The certificate only exempts purchases intended for resale. If items are used for any other purpose, sales tax must be paid at that time.

Misconception 4: You do not need to keep records if you use the R 1042 form.

This is false. Businesses must maintain accurate records of all transactions involving the use of the R 1042 certificate. Failure to do so could result in penalties.

Misconception 5: The seller is responsible for verifying the R 1042 form.

This is not accurate. While sellers should review the certificate, the responsibility ultimately lies with the purchaser to ensure that the items are indeed for resale.

Documents used along the form

The R 1042 Louisiana Certificate form is often used in conjunction with several other documents that facilitate tax exemption and resale processes. Each of these documents serves a specific purpose and helps ensure compliance with state regulations. Below is a list of commonly associated forms and documents.

Sales Tax Exemption Certificate: This document allows a buyer to purchase goods without paying sales tax, provided the items are for exempt purposes, such as resale or manufacturing.
Form ST-5: This is a general sales tax exemption certificate that can be used in various states. It certifies that the purchaser is exempt from sales tax for specific purchases.
Release of Liability Form: This document protects organizers from legal claims by participants in high-risk activities. More information can be found at UsaLawDocs.com.
Resale Certificate: Similar to the R 1042, this certificate confirms that the buyer intends to resell the purchased goods, thus avoiding sales tax on those items.
Form R-1001: This form is used for claiming a refund of sales tax paid on items that were later resold or found to be exempt.
Business License: A business license is often required to operate legally. It may be requested by sellers to verify the legitimacy of the purchaser’s business.
IRS Form W-9: This form is used to provide taxpayer identification information to businesses that will report payments to the IRS. It is often requested by sellers.
Certificate of Authority: This document allows a business to operate in a specific state and may be required to verify that the purchaser is authorized to make tax-exempt purchases.
Purchase Order: A purchase order outlines the specifics of a transaction, including items being bought, quantities, and agreed prices. It may reference the R 1042 form for tax exemption.
Invoice: An invoice details the transaction between the buyer and seller. It should reflect that the sale is tax-exempt when the R 1042 form is used.

Understanding these associated documents can help businesses navigate the complexities of sales tax exemptions and ensure compliance with state laws. Each form plays a vital role in the resale process, helping both buyers and sellers maintain proper records and avoid unnecessary tax liabilities.