House Bills 4561 and 4564 – protecting agriculture’s sales and tax exemptions - were signed by Lieutenant Governor Brian Calley, retaining Michigan farmers’ exemption status. GreenStone Farm Credit Services staff and members were instrumental in crafting the language and amplifying the conversation in local communities and with legislative representatives.
Using information from our tax and accounting department, we were able to provide real-life examples of the impact this law has on our members, particularly those in the greenhouse industry. The law provides clarification on how direct and indirect farm-related equipment purchases are subject to the sales and use tax exemption. The legislation also provides a retroactive statement addressing past, present and future Treasury interpretations so any audits conducted will apply the new definitions.
The successful passage of these bills was the result of our members’ efforts engaging in the issue and the collaborative efforts of Michigan agriculture organizations. Without the voice of our members, important issues may have been left behind or unaddressed. We encourage our members to stay engaged on important agriculture matters and keep the GreenStone team informed so we may be a collaborative supporter for the betterment of the industry.
