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NC H339
Bill
Status
Introduced
3/12/2019
Primary Sponsor
Edward Goodwin
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AI Summary
- Lowers the annual income requirement for qualifying farmers to receive a sales tax exemption from $10,000 to $7,500, or an average of $7,500 over three preceding taxable years
- Reduces the income threshold for conditional exemption certificates from $10,000 to $7,500 in gross sales for farmers affected by disasters
- Applies to farmers engaged in crop farming, dairy operations, poultry farming, egg production, livestock farming, aquatic species farming, and horse boarding
- Effective January 1, 2020 for all exemption certificates issued on or after that date
- Qualifying farmers may purchase fuel, piped natural gas, electricity, and other farming equipment exempt from sales and use tax
Legislative Description
Broaden Sales Tax Exemption for Farmers
Last Action
Ref to the Com on Finance, if favorable, Rules, Calendar, and Operations of the House
3/13/2019
Committee Referrals
Finance3/13/2019
Full Bill Text
No bill text available