Tax Clarification: House Bill 1050-Sales & Use Tax for Farmers
Posted on 6/4/2014
Mary Jac Brennan
The recently passed House Bill 1050 and signed by the Governor provides a measure of clarification regarding sales tax issues for farmers.
View the link for a two page clarification of the bill.
In 2013 the General Assembly passed changes to tax law that became effective January 1, 2014. These changes created questions as to how some farms may become subject to an expanded sales tax base or not on products they sell, as well as, qualifying for sales tax exemption on farm inputs. House Bill 1050, passed by the General Assembly and signed by the Governor on May 29, 2014 provides clarification to some of these questions.