as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am
Engrossments | ||
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Introduction | Posted on 02/02/1998 |
1.1 A bill for an act 1.2 relating to taxation; exempting sales of new farm 1.3 machinery from the sales tax; amending Minnesota 1.4 Statutes 1996, section 297A.02, subdivision 2; 1.5 Minnesota Statutes 1997 Supplement, section 297A.25, 1.6 subdivision 59. 1.7 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.8 Section 1. Minnesota Statutes 1996, section 297A.02, 1.9 subdivision 2, is amended to read: 1.10 Subd. 2. [MACHINERY ANDAQUACULTURE PRODUCTION EQUIPMENT.] 1.11 Notwithstanding the provisions of subdivision 1, the rate of the 1.12 excise tax imposed upon sales offarm machinery andaquaculture 1.13 production equipment is 2.5 percent. 1.14 Sec. 2. Minnesota Statutes 1997 Supplement, section 1.15 297A.25, subdivision 59, is amended to read: 1.16 Subd. 59. [FARM MACHINERY.] The gross receipts from the 1.17 sale ofusedfarm machinery are exempt. 1.18 Sec. 3. [EFFECTIVE DATE.] 1.19 Sections 1 and 2 are effective for sales after June 30, 1.20 1998.