During the past legislative session, important tax reform passed which focuses on updating and modernizing our tax code in order to make us more competitive with the surrounding southern states. As part of this legislation, not only are the previous agriculture exemptions defined and re-branded, but new exemptions are established for farmers and producers. Sales tax exemptions for agricultural inputs are broadened through including equipment parts, energy used in production of an agricultural product and other inputs which were previously not exempt. I want thank the Governor, the Lt. Governor, the Speaker and the General Assembly for passing this meaningful piece of legislation that will help agricultural producers during these trying economic times.
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