Arizona Gov. Doug Ducey signed an $18 billion, 2023 fiscal year budget that expands the sales tax exemption for used, rental and lease agricultural equipment, and off-highway vehicles (OHVs) for farming and ranching, effective Oct. 1, 2022.
Far West Equipment Dealers Association (FWEDA) joined the Arizona Farm and Ranch Group (AFRG) to convince lawmakers to enhance competition and ease financial burdens on farmers and ranchers in the state with passage of House Bill 2400 amending Arizona law to exempt Transaction Privilege Tax (TPT) collections on used agricultural machinery, and short-term rental and lease equipment of fewer than two years. It also provides a narrow exception for OHVs.
Far West President and CEO Joani Woelfel, and former FWEDA Board Chair Tim Robinson, Agricultural Manager for Empire Caterpillar and owner of Iron City Polaris, testified Feb. 2 at the Arizona State Capitol to advance the bill. The House voted 38-21-1 in March to pass the bill, which includes a conditional enactment clause for the TPT exemption to start Oct. 1.
“We applaud bill sponsor Rep. Tim Dunn and lawmakers’ efforts to level the playing field with Arizona’s neighboring states,” Woelfel said. “We also want to thank Arizona Farm and Ranch Group and Tim Robinson for their work in passing this legislation.”
Click here to see more...