tax exempt question

[Anonymous-0]

I am looking at buying a portable oxygen acetylene torch kit. I found one at lowes that I like but my question is does this qualify for far tax exemption. I have a farm tax number card but I can never keep up with what is and what isnt taxable

 

[tlak]

You might do a search of farm tax exempt items based on your state, because I think it varies from state to state. I personally don't worry about it and take it on any item I can, if the store will let me. Lowe's seems exceptionally lenient.

 

[John (C-IL)]

Sales tax exemption is a state by state deal. In Illinois the Oxy/acetylene outfit would not qualify. OTOH if you file a schedule F the entire purchase price including the sales tax is 100% deductible.

 

[Anonymous-0]

Here in Mn. any item that can also be used for non-farm purpose is taxable such as bolts, imp. tires and oxy torch. Unless you can prove it will only be used for farm which you can't do.