HF 3802

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  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 AND AQUACULTURE PRODUCTION EQUIPMENT.] 
  1.11  Notwithstanding the provisions of subdivision 1, the rate of the 
  1.12  excise tax imposed upon sales of farm machinery and aquaculture 
  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 of used farm 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.