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MS SB2291
Bill
AI Summary
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Requires commercial farmers to obtain a numbered certificate from the Department of Revenue to qualify for the 1.5% sales tax rate on farm tractors, parts, labor, and farm implements.
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Mandates that farmers present the certificate at time of purchase to receive the reduced tax rate on eligible agricultural equipment and maintenance.
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Establishes an application process requiring applicants to submit documentation verifying equipment will be used for specified agricultural purposes, with certificates valid for four years or until applicant no longer operates within the original scope.
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Subjects applicants who misrepresent information on their certificate application to applicable tax, penalties, and interest.
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Takes effect July 1, 2020.
Legislative Description
Sales tax; require Department of Revenue certificate for commercial farmers to receive 1.5% sales tax rate.
Last Action
Died In Committee
6/9/2020