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Senator Farley Reminds Local Farmers of Sales Tax Repeal
Friday, September 1, 2000
State Senator Hugh T. Farley (R,C - Schenectady) today reminded local farmers that the sales tax on most purchases of farm equipment is repealed as of September 1st. The tax cut, described by the New York Farm Bureau as their "biggest success" of the recent Legislative Session, is expected to save New York's farmers up to $12 million a year.
"New York's 38,000 farms -- including over 1,500 in the four counties I represent -- reflect not only our State's leading industry, but also a way of life which values productive work and strong family ties," Senator Farley said, adding, "This tax break for farmers is an important part of the $1 billion in tax cuts enacted as part of the 2000-2001 budget."
The tax cut taking effect today extends an earlier sales tax exemption for certain building materials to include all tangible property, and gas and electricity, used "directly in farm production" or in commercial horse boarding operations. In addition, motor vehicles used predominantly in farming will be exempt from the sales tax at the time of initial purchase. The previous law required farmers to apply to the State for a refund.
Farmers can take immediate advantage of the tax reduction by using their existing farmer's certificate of exemption.
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