MS SB2008

Requires commercial farmers to obtain a numbered certificate from the Department of Revenue to qualify for the reduced 1.5% sales tax rate on farm tractors, parts, labor, and farm implements.

Certificates are valid for four years or until the applicant no longer operates within the scope of the original application.

Department must establish an application process requiring applicants to submit documentation verifying that purchased equipment will be used for specified agricultural purposes.

Misrepresentation on the application subjects applicants to applicable tax, penalty, and interest.

Effective date is July 1, 2022.