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Bee & Honey
Starting Oct. 1, gross proceeds from the sale of honeybees, inputs and byproducts will be exempt from state sales and use taxes. This exemption will be in effect until Sept. 30, 2029, unless extended by the state legislature.
Honeybee byproducts in this act refers to substances and materials produced by honeybees during their life cycle and hive activities. This includes propolis, royal jelly, beeswax, honeycombs, bee venom and honeybee pollen. Click here for more information.
Livestock Fencing
The livestock fencing sales tax exemption begins Oct. 1. The exemption allows up to $25,000 in sales of fencing materials — including t-posts, wood posts, barbed wire, net wire, smooth wire and standard metal-gates to be exempt from state sales and use taxes.
To qualify, farmers must provide a Form ST: EXC-2, an affidavit confirming the materials are for agricultural livestock applications. The Form ST: EXC-2 will not be available until exemption is in effect.
This is set to expire Sept. 30, 2029, unless extended by the state legislature. It does not automatically apply to county or municipal sales taxes unless approved by the local governing body. Click here for more information.
Submitted by Preston Roberts
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