Florida Ag Taxes ???
- Thread starter rgood
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swiftboot
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No sales tax if you sign a document that the equipment will be used in agriculture pursuits.
Bird
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rgood said:
It might surprise you at the number of retail stores that have the forms. I was a bit surprised a few years ago to learn that the Sears store had them and the cashier didn't hesitate or stutter at all.
Apparently they were accustomed to farmers trading there.dirt clod
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What is this form called?
Rara Avis
Veteran Member
dirt clod said:
If you have to ask...you don't qualify...
Q: What is the phone number for the Florida Department of Agriculture and Consumer Services?
A: (850) 488 - 3022
ask for a sales tax exempt form. or say, "hey i'm a farmer and I qualify to buy things without paying tax, so don't charge me." cashier: "well you have to fill out one of these forms, sir."
the form will probably require a tax number so if you don't have one you may be out of luck.
but to be honest with you I don't know anything about those laws in FLA and am talking about what you would do in VA.
the form will probably require a tax number so if you don't have one you may be out of luck.
but to be honest with you I don't know anything about those laws in FLA and am talking about what you would do in VA.
checkers
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Be carefull when trying for tax exemptions for farm equipment and Ag exemptions for land in Fla. If you claim to be in an Ag business you must file for tangible taxes on your equipment and maintain records on expenditures and sales, etc: There has been a lot of abuse of Ag exemptions and they are cracking down on them.
Checkers this is my 1st year in FL - So, I've never filed taxes in FL - My tax guy is in Omaha - What are tangible taxes?
I found this on the net, but it doesn't tell me much - Business equipment? Are we talking computers or ???
"Tangible taxes are taxes paid on business equipment, etc. and businesses across Florida are ignoring them all together. "
I found this on the net, but it doesn't tell me much - Business equipment? Are we talking computers or ???
"Tangible taxes are taxes paid on business equipment, etc. and businesses across Florida are ignoring them all together. "
checkers
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Tangible taxes are paid on any equipment used for business purposes.
If you try to get Ag exemptions for your property you must claim your tractor and implements, Etc: If you aren't doing that I that I guess you don't have to worry about small items that you purchase at a store.
I have ag exemptions on my N. Fl. property so I file for taxes and record all
expenditures and income from my small haying operation.
I live in S. Fl and this year they denied almost 2000 ag exemptions in my county alone. There have been a lot of abuses and they finally saw how much
tax revenue they were losing, so they really tightened up on it.
When you buy a tractor or implements you can sign a form that is used for ag purposes and it is tax exempt, but they have been checking up on people
to see if they are really being used for a legitiment ag operation. I expect with all the tax reform they are trying to pass that they will really be looking for anything to bring in revenue.
If you try to get Ag exemptions for your property you must claim your tractor and implements, Etc: If you aren't doing that I that I guess you don't have to worry about small items that you purchase at a store.
I have ag exemptions on my N. Fl. property so I file for taxes and record all
expenditures and income from my small haying operation.
I live in S. Fl and this year they denied almost 2000 ag exemptions in my county alone. There have been a lot of abuses and they finally saw how much
tax revenue they were losing, so they really tightened up on it.
When you buy a tractor or implements you can sign a form that is used for ag purposes and it is tax exempt, but they have been checking up on people
to see if they are really being used for a legitiment ag operation. I expect with all the tax reform they are trying to pass that they will really be looking for anything to bring in revenue.
Soundguy
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It's my understanding that ag equipment is not tax exemp.. merely tax reduced.
I've always paid 2.5% ag tax rate when i bought a tractor.. vs the 6.5% tax rate.. etc.
They can come check me out as long as they wear boots.. cuz they are liable to step in some maneur when they get to my farm... be it chicken, turkey, duck, pig, horse, mule, or cow.. something going to stick to their shoes!
Soundguy
I've always paid 2.5% ag tax rate when i bought a tractor.. vs the 6.5% tax rate.. etc.
They can come check me out as long as they wear boots.. cuz they are liable to step in some maneur when they get to my farm... be it chicken, turkey, duck, pig, horse, mule, or cow.. something going to stick to their shoes!
Soundguy
checkers said:
I'm still not sure what a tangible tax is - I know what a sales tax is - It's a fixed % paid at time of purchase and it is a one time expense.
Property taxes are assessed and are paid yearly or semi yearly on land.
I understand what the word tangible means - I understand what equipment for business means.
I don't understand if a tangible tax is a one-time % like a sales tax - Or if its reoccuring. I'm 100% I have a legitimate Ag Business - I want to be sure I'm not cheating myself or the state - I want to do whatever is proper. I think things are different here because there is no State Income tax - Correct? I realize that I need to consult my tax adviser, but I want to have a clue before I do that. Thanks for your help.
OK - I found a few definitions of Tangible taxes - None of them are very clear - However, I now know that it is a county tax - And it appears to me to be similar to a property tax - My guess is, My hope is, that it doesn't ammount to very much money - If a guy has a small tractor, disk, harrow, posthole digger, planter - Maybe a total value of $12,000 what are we talking in tax?
Tangible Personal Property Tax: Tangible tax is a county tax levied on business and personal property that isn稚 used for ç´*amily or household comfort? including everything used in a business except vehicles and real estate. Tangible tax applies to three types of property: business equipment, attachments to mobile homes on rented land, and articles contained in properties that are rented (such as furniture, washers, dryers, stoves, refrigerators, lawnmowers, computers and fax machines, etc.). All companies, corporations and individuals who lease, manage, or have control of any tangible personal property are required to file a 禅angible Personal Property Tax Return (form DR-405) with the County Property Appraiserç—´ Office by 31st March each year.
It includes anyone earning an income from property through rentals. If you own a home in Florida which you let for profit, you should keep receipts for all major purchases of furniture, appliances and household goods. Tangible tax is usually payable on any property thatç—´ let on January 1st, although in some counties itç—´ based on the amount of time a property is let. Bills are sent out at the same time as real property tax bills (see above) and the payment schedule and discounts are also the same~ Thereç—´ a penalty of 10 per cent of the tax due for failure to file a return and a penalty for late filing of 5 per cent of the tax due per month up to a maximum penalty of 25 per cent. Thereç—´ a certain amount of confusion over tangible tax and youæ±*e likely to receive conflicting information depending on who you ask. The best source of accurate information is your local county tax office, although you should still insist on an answer in writing
Tangible Personal Property Tax: Tangible tax is a county tax levied on business and personal property that isn稚 used for ç´*amily or household comfort? including everything used in a business except vehicles and real estate. Tangible tax applies to three types of property: business equipment, attachments to mobile homes on rented land, and articles contained in properties that are rented (such as furniture, washers, dryers, stoves, refrigerators, lawnmowers, computers and fax machines, etc.). All companies, corporations and individuals who lease, manage, or have control of any tangible personal property are required to file a 禅angible Personal Property Tax Return (form DR-405) with the County Property Appraiserç—´ Office by 31st March each year.
It includes anyone earning an income from property through rentals. If you own a home in Florida which you let for profit, you should keep receipts for all major purchases of furniture, appliances and household goods. Tangible tax is usually payable on any property thatç—´ let on January 1st, although in some counties itç—´ based on the amount of time a property is let. Bills are sent out at the same time as real property tax bills (see above) and the payment schedule and discounts are also the same~ Thereç—´ a penalty of 10 per cent of the tax due for failure to file a return and a penalty for late filing of 5 per cent of the tax due per month up to a maximum penalty of 25 per cent. Thereç—´ a certain amount of confusion over tangible tax and youæ±*e likely to receive conflicting information depending on who you ask. The best source of accurate information is your local county tax office, although you should still insist on an answer in writing
chucko
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I have to mow for erosion control. So I got my tractor for a lower but not no tax
Soundguy
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Was it the 2.5% rate? that's what i paid.
soundguy
soundguy
chucko
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2.5% sounds about like wat it was
checkers
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rgood,
The tangible tax is recurring, but you can depreciate your equipment each year. You should check with you accountant to see what is best for you. The tax forms are available from your county property appraiser and they can explain them to you. The tax is mandated by the state but collected by the county and the state probably gets their cut. The form # is DR-405. After you pay for one year the state mails you at the beginning of the next year.
The tax is minimal and I always pay it and keep records of all expenses and sales to insure that I am able to keep my ag exemption on my property.
Soundguy- When I bought my tractor and some of my implements the dealer had me sign a form labeled Exemption Certificate Certain Power Equipment. By stating the equipment was to be used for a legitimate ag purpose I paid no sales tax. I believe you are correct about the 2.5% tax on other ag related items.
The tangible tax is recurring, but you can depreciate your equipment each year. You should check with you accountant to see what is best for you. The tax forms are available from your county property appraiser and they can explain them to you. The tax is mandated by the state but collected by the county and the state probably gets their cut. The form # is DR-405. After you pay for one year the state mails you at the beginning of the next year.
The tax is minimal and I always pay it and keep records of all expenses and sales to insure that I am able to keep my ag exemption on my property.
Soundguy- When I bought my tractor and some of my implements the dealer had me sign a form labeled Exemption Certificate Certain Power Equipment. By stating the equipment was to be used for a legitimate ag purpose I paid no sales tax. I believe you are correct about the 2.5% tax on other ag related items.
