- New bill proposes removal of sales tax on farm equipment in Washington
- Washington is one of two states that tax new farm equipment purchases
- Taxing farm equipment negatively impacts the financial health of food producers
- Senate Bill 5092 aims to exempt farm machinery and equipment from sales and use tax
- The bill targets farms and ranches with less than 2 million dollars in annual gross revenue
- Eligible equipment must be priced over 10,000 dollars and used for crop production
- Farmers must present a tax exemption certificate to qualify for the sales tax exemption
- The exemption is limited to one use per calendar year
- Removing sales tax encourages farmers to invest in newer, more efficient equipment
- New equipment supports greener farming practices like low-till and regenerative farming
- These practices reduce environmental impact and support local wildlife habitats
- The bill aligns with state efforts to fund voluntary conservation programs
- Farm equipment is primarily used in fields, not for road travel, distinguishing it from vehicles
Source: washingtonpolicy.org
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
