Conditioned seed wholesaling

From the 2024 DOR Tax Exemption Study

82.04.331 - Conditioned seed wholesaling Description Wholesale sales to farmers of conditioned seeds used for planting are exempt from B&O tax. The exemption also applies to conditioning seed owned by other persons. The exemption excludes seeds packaged for retail sale, flower seeds, vegetable seeds, seeds or portions of plants used to grow cannabis, ornamental flowers, shrubs, trees, ferns, or mosses. Purpose Assist businesses providing seed used in commercial agriculture. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes Minimal Minimal Minimal Minimal Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this exemption would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 Minimal Minimal Minimal Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions - This repeal takes effect July 1, 2024, and impacts 11 months of collections in fiscal year 2025. - The compound annual growth rate for seed conditioners’ wholesale sales related to farm production expenses is 3.4%. Data Sources - Department of Revenue, Excise tax data Additional Additional Information Information