OH HB347

Allows farmers to verify exemption from sales and use tax on trailers, utility vehicles, all-purpose vehicles, and compact tractors by providing the tax commissioner with copies of Schedule F federal tax forms from the three most recent preceding federal taxable years.

Eliminates requirement for additional documentation or explanation when a consumer provides the specified Schedule F forms to verify agricultural exemption eligibility.

Applies to purchases of qualifying vehicles intended for primary use in producing tangible personal property for sale through farming, agriculture, horticulture, or floriculture.

Excludes trailers designed to transport watercraft from the exemption eligibility.

Takes effect on the first day of the first month beginning after the bill's effective date.