Sales Tax Exemption

[tortoise]

We do for our sheep and chicken purchases. It doesn't save money, except proving we use the land for agriculture which saves us from paying property tax at higher recreational rates.

 

[NH Homesteader]

Our property tax break is for any undeveloped land, farming or not farming. But there's a minimum of 10 acres. I want to buy the 6 acres next to my 5 (because we need an acre for the house) for a property tax break, lol

 

[HornyToadAcres]

Oh my goodness! Once I finally found the right info, registering for a Sales Tax exemption in Texas was super easy. Especially since I already had a tax account for other businesses on the comptroller website. The hardest part was selecting the activity since I am raising meat rabbits to sell. But it gives you your number immediately! Woo hoo!

 

[CrealCritter]

They should give tax exemptions if your farm SPENDS more than 1K/year!!!

Exactly! 1k including all taxes.

 

[Zekee]

Yeah, there are rules like that nowadays that don't really make sense but that is the only way to do it. You can't just show the bills of the last two years to show that no one lived there after the renovation. No one will believe you and you will lose credibility because of that. I suggest you learn how to get paystubs and try to sell your products and make up the money that you lost because of this instead of arguing with the people that work with these kinds of documents every day.

 

[Mini Horses]

Here I have ag exemption rates(VA) and my senior exemption saves me $1k per year on RE Taxes. That's a county thing, I believe. But have to watch income or they back it off some. Since they just raised it a nice amount this past year, I'm not concerned. 😁

Right now I don't use the sales tax part but may begin this year. In the past I had it for the mini horse business. Just hate all the hullabaloo with Uncle at filing time for a farm. If I increase that effort, well, I'll bite the bullet again! Back then, CPA was used for filing...I did all paperwork for. Just don't want to go there now. A LOT of work.

 

[Mini Horses]

Just know....tax exemptions don't just happen without record keeping, an annual tax report as well as audits "on demand". So an entity must be established.

 

[NH Homesteader]

We don't have sales tax!

 

[CrealCritter]

We don't have sales tax!

Lucky you

 

[frustratedearthmother]

We have it here but I've never checked into it... Might be something I need to do?