Can sales of cord wood qualify someone for the farmer tax exemption permit?
Sales of cord wood by an individual who is not engaged in forestry management do not qualify as sales of agricultural products raised in agricultural production. 4. Are horse breeders eligible for a farmer tax exemption permit? In order to qualify for the exemption, the breeder must have properly reported gross receipts of $2,500 or more in the preceding taxable year on Schedule F or Schedule C of his or her federal income tax return. A breeder who is required for federal income tax purposes to treat his or her income from sales of horses as capital gains does not qualify. 5. Is a person engaged in the business of boarding horses, owned by others, eligible for a farmer tax exemption permit? No. While agricultural production includes the raising of livestock, the livestock that the farmer is engaged in raising, as a trade or business, must be owned by such farmer. 6. Can the sale of hay, grown by a person engaged in boarding horses and consumed by the horses that are being boarded, qual
Related Questions
- What will happen if our company or our affiliate does not register to collect and remit Wisconsin sales and use tax and does not qualify to sign an Affidavit of Exempt Sales?
- Does a start-up farmer have any special requirements to qualify for a farmer tax exemption permit?
- Can sales of cord wood qualify someone for the farmer tax exemption permit?
