Wisconsin Administrative Code › Department of Revenue › Chapter Tax 11 - Sales And Use Tax › Subchapter X - Administrative Provisions › Section Tax 11.92 - Records and record keeping

Current through June 24, 2024
(1) GENERAL. All
				persons selling, licensing, leasing, or renting tangible personal property or
				items, property, or goods under s.
				77.52(1) (b), (c),
				or (d), Stats., or taxable services and every
				person storing, using, or otherwise consuming in Wisconsin tangible personal
				property, items, property, or goods under s.
				77.52(1) (b), (c),
				or (d), Stats., or taxable services shall
				keep adequate and complete records so that they may prepare complete and
				accurate tax returns. These records shall include the normal books of account
				ordinarily maintained by a prudent business person, together with all
				supporting information such as beginning and ending inventories, records of
				purchases and sales, cancelled checks, bills, receipts, invoices which shall
				contain a posting reference, cash register tapes, credit memoranda which shall
				carry a reference to the document evidencing the original transaction or other
				documents of original entry which are the basis for the entries in the books of
				account, and schedules used in connection with the preparation of tax returns.
				These records shall show:
(a) The sales price
				from sales of tangible personal property, items, property, and goods under s.
				77.52(1) (b), (c),
				and (d), Stats., and taxable services, or
				licenses, rentals, or leases of tangible personal property and items, property,
				and goods under s.
				77.52(1) (b), (c),
				and (d), Stats., including any services that
				are a part of the sale, license, lease, or rental sourced to Wisconsin under s.
				77.522, Stats., even if
				the seller, licensor, or lessor regards the receipts as taxable or nontaxable.
				Taxable receipts shall be reported on the accrual basis, except when the
				department is satisfied that an undue hardship would exist and authorizes
				reporting on some other basis.
(b)
				The basis for all deductions claimed in filing returns, including exemption
				certificates obtained from customers. Exempt sales to governmental units and
				public schools need not be supported by exemption certificates, if the supplier
				retains a copy of the exempt entity's purchase order and the supplier's invoice
				or billing document. Sales to organizations holding a certificate of exempt
				status, CES, including religious or charitable organizations and certain title
				holding companies described under section 501 (c) (2), can be documented as
				exempt by recording the CES number on the seller's copy of the bill of sale.
				Except as provided in this paragraph and ss.
				77.52(13)
				and
				77.53(10),
				Stats., exempt sales shall be supported by an exemption certificate retained by
				the seller and paper certificates shall also be signed by the purchaser.
				Documents necessary to support claimed exemptions from tax liability, such as
				bills of lading and purchase orders, shall be maintained in a manner in which
				they readily can be related to the transaction for which exemption is sought.
(bg) Sales to state veterans
				organizations, as defined in s.
				45.41(1)
				(b), Stats., are exempt, except for property
				and services used primarily in preparing, storing, serving, selling, or
				delivering food and beverages, including products and services for cleaning
				machinery and equipment used for the food and beverages that are sold by the
				veterans organization. The state veterans organization shall provide a
				Wisconsin sales and use tax exemption certificate, Form S-211 or S-211E, to
				claim an exemption on their purchases.
(c) Total purchase price of all tangible
				personal property, items, property, and goods under s.
				77.52(1) (b), (c),
				and (d), Stats., and taxable services
				purchased for sale, license, lease, rental, storage, use, or other consumption
				in Wisconsin.
(d) Every person
				subject to the county or stadium sales and use tax shall keep a record of sales
				that the person makes that are sourced under s.
				77.522, Stats., to each:
1. County that has in effect an ordinance
				imposing a county tax under s.
				77.70,
				Stats.
2. Stadium district that has
				in effect a resolution imposing the tax under s.
				77.705
				or
				77.706,
				Stats.
(e) Every person
				shall keep a record of the purchase price of property, items, and goods on
				which the person is subject to county and stadium use or excise tax in each
				enacting county or stadium district's jurisdiction.