Form ST-124 Certificate of Capital Improvement - New York

What Is Form ST-124?

This is a legal form that was released by the New York State Department of Taxation and Finance - a government authority operating within New York. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form ST-124?A: Form ST-124 is the Certificate of Capital Improvement for the state of New York.

Q: What is a Certificate of Capital Improvement?A: A Certificate of Capital Improvement is a document used to claim a sales tax exemption on qualifying capital improvements made to real property.

Q: What is the purpose of Form ST-124?A: The purpose of Form ST-124 is to allow businesses or individuals to certify that certain capital improvements are eligible for a sales tax exemption in New York.

Q: Who needs to fill out Form ST-124?A: Businesses or individuals who make qualifying capital improvements and want to claim a sales tax exemption in New York need to fill out Form ST-124.

Q: What are qualifying capital improvements?A: Qualifying capital improvements are improvements made to real property that are permanent and add value to the property. They typically include things like construction, renovation, or installation of fixtures.

Q: How do I fill out Form ST-124?A: Form ST-124 requires you to provide information about the taxpayer, the property, and the capital improvements made. You also need to attach supporting documentation, such as invoices or contracts.

Q: Is there a deadline for filing Form ST-124?A: Yes, Form ST-124 should be filed within 90 days of the completion of the capital improvement project.