You can now take advantage of a new sales tax exemption

Attention all New York State:

• Farm businesses that engage in farm production at least 50 percent of the time
• Commercial horse boarding operations with at least 10 acres, boarding at least 10 horses and earning at least $10,000 annually in boarding, crop sales or livestock sales.

The new sales tax exemption

As of September 1, 2000, you can now take advantage of a new sales tax exemption. You no longer have to pay sales tax on the purchase of:

What you need to do

• Obtain Form ST-125 Farmers and Commercial Horse Boarding Operator’s Exemption Certificate from your local Department of Taxation and Finance office or tax specialist. The form is also available on the department's Web site (scroll to ST-125; requires Acrobat reader - see site for details).
• Give the form to your suppliers. (You do not need to give them a new ST-125 form if they already have one on file for you.)

For more information, contact us at info@yankeeaca.com for more information today!

• Details of the exemption - TSB-M-00(8)S, Farmers and Commercial Horse Boarding Operations
• 2001 Tax Act
• Financial Solutions - minimize taxes
• Alternative Minimum Tax
• Education tax credits
• New York State energy tax credit
• Tax planning: It makes good sense

© 1999-2005 Yankee Farm Credit, ACA. All rights reserved.