51A158 (614) Commonwealth of Kentucky DEPARTMENT OF REVENUE FARM EXEMPTION CERTIFICATE IMPORTANT See Reverse Side for Additional Information This certificate may not be issued for purchases of tangible.
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How to fill out the 51a158 online
Filling out the 51a158 form online can seem daunting, but with clear guidance, you can navigate the process with confidence. This guide provides step-by-step instructions to help you complete the form accurately and efficiently.
Follow the steps to complete the 51a158 form online.
- Press the ‘Get Form’ button to access the 51a158 online form and open it in your preferred editor.
- Begin by identifying yourself as a farmer. Check the appropriate box that corresponds to your farming activities: tilling and cultivating soil, raising livestock or poultry for human consumption, or raising specific animals such as llamas or alpacas.
- Read the information provided on the reverse side of the form carefully. This will guide you on the exempt purposes outlined under KRS 139.480.
- Now, check the applicable line(s) for the tangible personal property you plan to purchase. This includes options like baling twine, farm machinery, livestock feed, and other items specified in the form.
- Indicate if you are using this certificate as a blanket certificate, which remains valid until you inform the seller in writing that it is no longer valid.
- Confirm your understanding that if the property is used in a nonexempt manner, you will be responsible for paying the sales tax as outlined in KRS 139.490.
- Complete the certification by signing your name, printing your name, providing your farm location, driver’s license number, and mailing address.
- Finally, save your changes and use the options available to download, print, or share the completed form as needed.
Complete your 51a158 form online today to ensure compliance and take advantage of available exemptions.
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Get answers to your most pressing questions about US Legal Forms API.
What are the tax benefits of owning a farm in Kentucky?
Farmers wanting to sell agricultural land and assets may be eligible for a Kentucky income tax credit up to 5% of the purchase price of qualifying agricultural assets, subject to a $25,000 calendar year cap and a $100,000 lifetime cap.
What qualifies as a farm for IRS?
You are in the business of farming if you culti- vate, operate, or manage a farm for profit, either as owner or tenant. A farm includes livestock, dairy, poultry, fish, fruit, and truck farms. It also includes plantations, ranches, ranges, and or- chards and groves.
How do I get a farm tax exempt number in TN?
You can fax the application to the Department at (615) 532-9784. If you have questions or need to assistance, you can call the Department at (615) 253-0600. Callers within Tennessee but outside the Nashville calling area call 1-800-342-1003. You may also e-mail the department at Tn.Revenue@tn.gov.
Who is tax-exempt in Kentucky?
In Kentucky, certain items may be exempt from the sales tax to all consumers, not just tax-exempt purchasers. Several exceptions to the state sales tax are goods and machinery which will be sold to farmers, any machinery which is intended for new and expanded industries, any oil and gas extraction machinery.
How do I become a farm tax exempt in Kentucky?
You MUST issue a Farm Exemption Certificate (Form 51A158) or the On-Farm Facilities Certificate of Exemption for Materials, Machinery and Equipment (Form 51A159) to each of your vendors using your Agriculture Exemption Number.
How many acres do you need to be considered a farm in Kentucky?
The Kentucky Revised Statute 132.010 (9, 10, 11) defines agricultural land as any tract of land, including all income producing improvements of at least 10 contiguous acres in area used for the production of livestock, livestock products, poultry, poultry products and/or the growing of tobacco and/or crops including ...
How do I qualify for farm tax exemption in Indiana?
The person, company, partnership, or corporation acquiring the property must directly use the property in the direct production of food or commodities for sale and the person must be occupationally engaged in the production of food or commodities sold for human or animal consumption or for further use in food or ...
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