63-602EE. PROPERTY EXEMPT FROM TAXATION — CERTAIN TANGIBLE PERSONAL PROPERTY. [EFFECTIVE JANUARY 1, 2020] The following property is exempt from taxation: class 2 property that is agricultural machinery and equipment and exclusively used in agriculture during the immediately preceding tax year. For purposes of this section:
(1) "Agricultural machinery and equipment" shall mean any machinery and equipment that is used in:
(a) Production or harvest of field crops including, but not limited to, grains, feed crops, fruits and vegetables, or the production of or caring for nursery stock as defined in section 22-2302, Idaho Code; or
(b) The grazing, feeding or raising of livestock, fur-bearing animals, fish, fowl and bees, or harvest of their production, to be sold or used as part of a net profit-making agricultural enterprise or dairy.
(2) "Harvest" shall include all activities necessary for a raw agricultural commodity to be put into its most basic salable form and shall also include on-farm storage of the commodity before it is first handled in the primary channels of trade.
(3) Buildings shall not be considered to be agricultural machinery and equipment.
(4) The provisions of this section shall be broadly interpreted in favor of granting the exemption.
History:
[63-602EE, added 2018, ch. 297, sec. 3, p. 702; am. 2019, ch. 53, sec. 4, p. 142.]
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
