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House Finance hears bill to exempt qualifying farm machinery from sales tax
Summary
House Bill 2,584 would establish a state sales-and-use-tax exemption for qualifying farm machinery and equipment, subject to price, income and documentation rules; sponsors and farm advocates said it would ease capital costs, while county officials warned of local revenue losses. A fiscal note was requested but not yet available.
House Finance heard House Bill 2,584 on Feb. 4, a proposal to create a state sales-and-use-tax exemption for qualifying farm machinery and equipment. John Brzezinski, staff to the committee, told lawmakers the exemption would require either an exemption certificate prescribed by the Department of Revenue or seller-recorded sale data under the Streamlined Sales and Use Tax Agreement; the machinery must sell for $10,000 or more and the eligible farmer must generally have had at least $10,000 in gross sales, harvested value, or estimated product value in the immediately preceding tax year (with exceptions for new or…
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