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| No sales tax on farm equipment here in Indiana but a good friend who is in the State Legislature says it's just a matter of time before uncle mitch implements one. So far my friend has been able to get enough support to block it but doesn't know how much longer he can. We do pay personal property tax on equipment every year. There are some things that dpends upon their use as to whether they have a sales tax or not. One is mowers, including batwings. If it is used to mow roadsides or pastures then it is taxed. If it's strictly used to chop con stalks it's not as I understand. If you use for both then you have to document the % of each use & pay sales tax accordingly. Most just pay the tax.
IL almost implemented a sales tax on farm machinery a few years ago. I believe they went o far as to actually approve it but before it could be implemented it was repealed. It would have put a lot of machinery dealers aloing the IN/ IL out of business. I know we buy equipment in both states & if it would have been implemented we wouldn't buy in IL anymore unless they would have exempted out of state sales. | |
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Taxes!!!
