Agricultural News
Lori Peterson, Oklahoma Grain and Feed Assoc., Explains Why Tax Commission Can't Change Eligibility Requirements For Ag Sales Tax Exemption
Tue, 04 May 2021 14:21:51 CDT
The sales tax exemption for agricultural producers has long been protected by the ag industry so when the Oklahoma Tax Commission attempted to make changes this year it grabbed the industry's attention, said Lori Peterson, Oklahoma Grain and Feed Association Government Affairs and general counsel.
We saw the Oklahoma Tax Commission make some changes to their website and in doing so they let the county assessors know there would be some new requirements, Peterson said.
However, Oklahoma law states the county assessor determines agricultural producers who are eligible to receive a sales tax permit, Peterson said.
Legislation is pending to clarify the way traditional agricultural producers renew their permit and Peterson said there should not be any changes for them.
Peterson said producers who do not file a Schedule F and are not on record with the FSA office, may see some additional forms.
Once finalized the changes will go into effect July 1.
Other issues the OGFA is following include obtaining and renewing a Commercial Driver's License and the state budget process.
Faced with more revenue than expected, lawmakers are scrambling to find ways to allocate the funds.
The discussions are a little different, but we do hope we will at least see a flat budget for most and maybe a little extra for some of the important infrastructure and education programs in Oklahoma, Peterson said.
You can click on the listen bar below to hear more of Ron's interview with Lori Peterson.
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