HB1448: Sales tax exemption for agricultural equipment.

Legislative Summary

Sales tax exemption for agricultural equipment. Provides that a transaction involving a person's acquisition of agricultural machinery, tools, or equipment is exempt from the application of the state gross retail tax regardless of whether the person also intends to use the property for a nonexempt purpose and that such a transaction may not be prorated. Requires the department of state revenue to amend the administrative rules to conform with the provision added by the bill.