Tax Number

[indebt]

I live in West Virginia and was wondering if anybody knows how I could get a tax exempt number? How does this work ? Do I need make a certain amount of money from my property every year to qualify? /forums/images/graemlins/confused.gif

 

[cowboydoc]

I'm not sure of WV laws but in order to be tax exempt you have to first have a legitimate business. File farm schedule on your taxes, have a federal tax ID #, etc. Then the only things that are non-taxable are the goods that actually go into the production of that crop or livestock. Our state has really cracked down on this the last couple years. It used to be they didn't check much but now they really check.

 

[450EXC]

In NY you can be a Sole Propietor and use your social security number, very simple. It may be more of a Fed thing than State. You can get info booklets from the IRS and State tax man with lots of info.

There is a lot to it and difficulty depends on how much biz experiance you have. Either way I think its worth it.

Good luck, Larry

 

[jpm]

if you are looking just to save sales tax forget it, its NOT worth the
huge aggravtion if you are autided or some place you used the #
is.With computers the tax man can track alot of things.If you have a real bis your lawer & account would have told you this and a lot more good luck

 

[brownmule]

im in wv i have a farm bussiness lic. my accountant says that they are really cracking down on "back yard farmers" i run my farm as a bussiness, but i just started, i keep records of every thing ,and i mean everything just incase.. i keep a log of time on net sites ive been to doing research, etc. field logs. i have a have did the tax exempt thing a few times but mostly pay taxes, if they would decide to audit me good luck boys! i have no income from farm as of yet, putting in an organic blue berry field but maybe another year before and proffit comes in.. you can ck out wwv.gov.com go to wv.sos .com and ck out the taxexempt forms and bussiness lic. what kind of farming are you doing? Need a mule? LOL Rose /forums/images/graemlins/cool.gif

 

[indebt]

Not much farming yet , I was thinking of keeping a couple of cattle each summer and then selling them in the fall. Thought this would qualify me for the tax exemption. It may also allow me to claim my 30ac as a farm for my state and county property tax. ( I dont need a mule but I could use a kioti ! ) /forums/images/graemlins/grin.gif

 

[hudr]

No idea about your state, but in TX you just use your SS# for farm use stuff. But, I got a letter a while back about having to show a certain "production" from the land to qualify for the tax breaks. It kind of goes along w/ what one of the other posters said about the state cracking down on "hobby farmers". Depending on what I do w/ the property, I will have to have X number of cattle per acre, or produce X tonnage of hay per acre, etc.