Insurance Ins cost on new tractor?

[dntfxr]

Does anyone know what Kubota insurace would be on a new M series tractor like a 7040 or 7060 open station? I'm counting my pennies here lol.

 

[MessickFarmEqu]

approx. $1/mo per thousand tractor value.

$40,000 tractor.. approx. $40/mo.

 

[oosik]

I got a quote for my 2009 M6040 about a month ago. $480/year.

 

[dntfxr]

Good deal thanks for the quick replies guys. I can swing that.

Another quick question I have, if I buy in state I'll pay roughly 10% in sales tx. But I've heard of folks here buying out of state tx free. Anyone have a clue how that works? The tractor will be used for a startup AG venture.

 

[bigbull338]

i think my ins for my 2013 7040 is a tad over $300 a year.

 

[smstonypoint]

Good deal thanks for the quick replies guys. I can swing that.

Another quick question I have, if I buy in state I'll pay roughly 10% in sales tx. But I've heard of folks here buying out of state tx free. Anyone have a clue how that works? The tractor will be used for a startup AG venture.

Sales tax laws differ by state.

Some states give sales tax exemptions for ag. related purchases by farmers. NC is an example. That state's law was changed on July 1, 2014. Effective on that date, you qualify if you have annual ag. sales of $10,000 or more, or average $30,000 in sales or more over three years. The law has provisions that allow exemptions for those just beginning their enterprises. Forestry qualified under the previous law and I no longer qualify for the exemption. Your tractor dealer should know the LA law.

Depending on the states involved, you may not have to pay sales tax if you have an out-of-state dealer deliver the tractor to you in your state. I don't know about LA, but some states have a "use tax" law that requires you to report your out-of-state purchases for which you did not pay a sales tax. You are then obligated to pay your state's sales tax on those purchases.

Steve

 

[blueriver]

Does one have to use Kubota Insurance?

 

[dntfxr]

Sales tax laws differ by state. Some states give sales tax exemptions for ag. related purchases by farmers. NC is an example. That state's law was changed on July 1, 2014. Effective on that date, you qualify if you have annual ag. sales of $10,000 or more, or average $30,000 in sales or more over three years. The law has provisions that allow exemptions for those just beginning their enterprises. Forestry qualified under the previous law and I no longer qualify for the exemption. Your tractor dealer should know the LA law. Depending on the states involved, you may not have to pay sales tax if you have an out-of-state dealer deliver the tractor to you in your state. I don't know about LA, but some states have a "use tax" law that requires you to report your out-of-state purchases for which you did not pay a sales tax. You are then obligated to pay your state's sales tax on those purchases. Steve

I see, that makes sense. Thanks for the reply good info. I'll check locally and see what they say about it too.

 

[Fallon]

Does one have to use Kubota Insurance?

No, but you probably won't find a better deal. I didn't when I looked. Cheaper & with better coverage than other options.