Understanding Tax Exempt Certificates

Various types of organizations are exempt from paying sales tax, state hotel occupancy tax and, if incorporated, franchise tax. The exemptions vary, depending upon the type of organization. Organizations include charitable, educational, and religious.

Government entities are frequently asked to provide a tax-exempt number or determination letter to prove status as a tax-exempt or charitable entity. For example, applications for grants from a private foundation or a charitable organization generally require this information as part of the application process. In addition, donors frequently ask for this information as substantiation that the donor’s contribution is tax deductible, and vendors may ask for this to substantiate that the organization is exempt from sales or excise taxes.

Tax exemption details are displayed and maintained on the Company, Consumer, and Site components. Updates to the Tax Exempt Certificate information is published to Supply Chain Management.

Tax exempt information created in PeopleSoft CRM can be viewed and edited in PeopleSoft SCM and tax exempt information created in PeopleSoft CRM can be viewed and edited in PeopleSoft SCM.