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Sales tax and agriculture | TaxConnex

TaxConnex

Many industries come with confusing sales tax complexities. So does agriculture, and several aspects make this industry trickier than others for sales tax. Here are points to keep in mind regarding sales tax and agriculture. Sales and use taxes on sales of agricultural products are complex.

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Budget Addresses Key Changes to Agricultural Property Relief

Menzies

New Tax Rules for Larger Farms The changes introduced mean that agricultural relief allowing land or pasture to be used to grow crops, or to rear animals, will be scrapped for farms worth more than 1m. For businesses or agricultural property, a 50% relief will now apply to those that exceed the 1m threshold. Have more questions?

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What's new in May for state sales and use taxes

TaxConnex

What’s new in May for state sales and use taxes. There’s always something changing in the world of tax, especially sales tax. Exempting groceries from sales tax as American families struggle with inflation and other economic woes is politically tempting. million in taxes a year on the sale of groceries.

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Form 943: What to Know About Agricultural Withholding

Patriot Software

Various types of employers must withhold taxes from employees’ wages, including employers hiring farm workers. If you are an agricultural employer, you likely withhold taxes from your employees’ pay. Form 943, Employer’s Annual Federal Tax […] READ MORE. So, what is Form 943? What is Form 943?

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Taxability complexities | TaxConnex

TaxConnex

Sales tax isn’t simple. Here’s a step-by-step overview of various complications of sales tax compliance – and how to handle them. Then came 2018’s South Dakota vs. Additional complexities: The five NOMAD states – New Hampshire, Oregon, Montana, Alaska and Delaware – do not have a statewide sales tax.

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IRS Issues Additional Guidance For the Sustainable Aviation Fuel Tax Credit

CPA Practice

18 released new guidance for the Sustainable Aviation Fuel (SAF) credit, a tax incentive created by the Inflation Reduction Act of 2022. The safe harbors can be used to calculate the emissions reduction percentage and for the corresponding unrelated party certification for the SAF credit, the tax agency said in April.

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Top Remote Tax and Accounting Candidates of the Week | May 22, 2025

Going Concern

If your firm or internal team is having a tough time sourcing qualified remote tax and accounting professionals, you’re not aloneand you’re not out of options. Whether you’re looking for talent in tax, audit, accounting, or project-based roles, we’ve got candidates worth your time.