Exempts sales and use tax for farm equipment over $10,000 for eligible farmers with income under $2,000,000.

Washington SB5092 provides a sales and use tax exemption for qualifying farm equipment valued over $10,000 for eligible farmers with an annual gross income under $2,000,000. The exemption applies to equipment used directly for crop production and requires the buyer to provide an exemption certificate. The exemption is available only once per calendar year. The bill also mandates an evaluation of the fiscal impact and changes in the number of small and medium-sized farms by 2034. The exemption takes effect October 1, 2025, and expires October 1, 2035.

Exempts sales and use tax for farm equipment over $10,000 for eligible farmers with income under $2,000,000.

Washington SB5092 provides a sales and use tax exemption for qualifying farm equipment valued over $10,000 for eligible farmers with an annual gross income under $2,000,000. The exemption applies to equipment used directly for crop production and requires the buyer to provide an exemption certificate. The exemption is available only once per calendar year. The bill also mandates an evaluation of the fiscal impact and changes in the number of small and medium-sized farms by 2034. The exemption takes effect October 1, 2025, and expires October 1, 2035.