Created: Wed, 02 Apr 2014 10:30:00 CST
Updated: Thu, 03 Apr 2014 09:39:10 CST
While some state officials may say there are more fields to plow when it comes to tax cuts, there's good news for the ag industry. LB 96 was signed into law today...
It exempts repair or replacement parts for commercial ag machinery from sales tax. Co-sponsor on the bill, 4th District Senator, Pete Pirsch said people were getting parts from neighboring states without sales tax like Kansas and Colorado.
"The state of Nebraska was losing out, the ag community was losing out and the ag dealers were losing out. I'm glad we leveled the playing field."
The sales tax exemptions amount to over 6,700,000 dollars in 2014/2015. Exemptions will be over 10,800,000 by 2018/2019.