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#936566 - 04/04/08 05:46 PM MSB/exemption
mdog76 Offline
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Joined: Jan 2007
Posts: 645
We have a customer that has convienence marts/gas stations all over our area. We have the account of two of the stores. We have them exempt, but have just learned that the owner has registered some of his stores as MSB's. He said that that the stores/accounts we have are not registered as an MSB. Does the fact that he has registered some stores but not the ones we have as MSB's keep us from making the accounts that we have CTR Exempt?

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#937351 - 04/07/08 05:43 PM Re: MSB/exemption mdog76
BrendaC Offline
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BrendaC
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
You can exempt a customer that is an MSB if more than half the gross revenue is derived from exemptible activity. I like to see substantially more than 51% (like 80-90%) personally to ensure I won't run into trouble down the road.

And remember - you are looking at the business entity, not the particular store.
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