Illinois ST-587 Exemption Certificate for Manufacturing
The Illinois ST-587 Exemption Certificate verifies that no tax is due on exempt sales for manufacturing and other specified uses. This form is crucial for businesses involved in production agriculture, mining, and manufacturing processes. Proper completion of this certificate ensures compliance with Illinois tax regulations.
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How do I fill this out?
This section guides users through the process of completing the Illinois ST-587 Exemption Certificate. Be sure to gather all necessary information about the seller, purchaser, and items before filling out the form. Following the steps outlined will help ensure accuracy and compliance.
How to fill out the Illinois ST-587 Exemption Certificate for Manufacturing?
1
Identify the seller's information such as name, address, and phone number.
2
Fill in the purchaser's details including account ID, FEIN, or SSN.
3
List the items being purchased or leased with their type and serial numbers.
4
Indicate how the items will be used and complete any necessary blanket certificate information.
5
Sign and date the certificate to finalize the process.
Who needs the Illinois ST-587 Exemption Certificate for Manufacturing?
1
Manufacturing companies that need to purchase machinery tax-free.
2
Agricultural businesses looking to exempt equipment purchases for production use.
3
Coal and aggregate mining operations requiring exemption for related machinery.
4
Businesses engaged in graphic arts production benefiting from tax-free purchases.
5
Lessees needing to certify the tax-exempt nature of leased equipment.
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What are the instructions for submitting this form?
Submit the completed ST-587 form by keeping it on file with the seller as proof of tax exemption. Ensure all information is filled out correctly, including seller and purchaser details. For any queries regarding the form, you can refer to the Illinois Department of Revenue's official website for guidance and to download additional forms.
What are the important dates for this form in 2024 and 2025?
Make sure to stay updated on any changes affecting the submission process of the ST-587 form in 2024 and 2025. Review deadlines each tax year for compliance. Consult the Illinois Department of Revenue for any alterations in forms or tax regulations that may impact your filing.
What is the purpose of this form?
The Illinois ST-587 Exemption Certificate serves as an essential document for businesses needing tax exemptions on specific purchases. It enables manufacturers, agricultural operators, and mining companies to procure necessary equipment without incurring sales tax. Proper use of this form facilitates smoother transactions and complies with state tax laws.
Tell me about this form and its components and fields line-by-line.
- 1. Seller Information: Includes the seller's name, address, and phone number.
- 2. Purchaser Information: Contains the purchaser's details including name, address, and identification numbers.
- 3. Lessee Information: If applicable, the lessee's name and contact information.
- 4. Items Purchased: Details of the items, including type and serial numbers.
- 5. Usage Declaration: A statement indicating how the purchased items will be utilized.
- 6. Signature: The purchaser's signature and date to validate the certificate.
What happens if I fail to submit this form?
Failure to submit the ST-587 form may result in tax penalties and issues with future tax-exempt purchases. It is vital to ensure that all required information is accurately completed and maintained. Sellers may request this certificate as proof to validate tax-exempt transactions.
- Tax Penalties: Inaccuracies or failure to submit the form can lead to penalties imposed by the state.
- Processing Delays: Incomplete forms may result in delays in processing tax-exempt purchases.
- Audit Risks: Improper records may increase the likelihood of audits by tax authorities.
How do I know when to use this form?
- 1. Manufacturing Purchases: Used for acquiring machinery needed for production processes.
- 2. Agricultural Equipment: Applicable in purchasing tools for farming without paying sales tax.
- 3. Mining Operations: Ensures tax exemption on equipment essential for coal and aggregate mining.
Frequently Asked Questions
What is the Illinois ST-587 Exemption Certificate?
The ST-587 is a document for businesses that allows them to purchase machinery and equipment tax-free under certain conditions.
Who can use the ST-587 form?
Any business engaged in manufacturing, agriculture, or coal and aggregate mining can use this form to claim exemption from sales tax.
How do I fill out the ST-587?'
You can fill it out by providing seller and purchaser information, item details, intended use, and your signature.
Can I edit this PDF?
Yes, PrintFriendly allows you to edit the ST-587 PDF directly for personalized use.
How do I download the edited PDF?
Once you make your edits, simply click the download button to save the updated document.
What if I need to use this form multiple times?
You can create a blanket certificate for ongoing tax-exempt purchases from the same seller.
Is my information secure when using PrintFriendly?
PrintFriendly provides a user-friendly interface for editing without compromising data integrity.
Do I need to submit this form to anyone?
You do not need to mail the ST-587; it should be kept on file by the seller.
How can I share the ST-587 PDF?
PrintFriendly allows you to generate a shareable link for easy distribution.
What happens if I fill it out incorrectly?
Make sure to review your entries carefully, as incorrect submissions might lead to processing issues.
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