Semen for artificial insemination of livestock

From the 2024 DOR Tax Exemption Study

82.08.0272; 82.12.0267 - Semen for artificial insemination of livestock Description Semen used for artificial insemination of livestock is exempt from sales and use taxes. Purpose To support the agricultural industry. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.701 $0.701 $0.701 $0.701 Local Taxes $0.203 $0.203 $0.203 $0.203 Repeal of Repealing this exemption would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.643 $0.701 $0.701 Local Taxes $0.000 $0.169 $0.203 $0.203 Assumptions - This repeal takes effect July 1, 2024, and impacts 11 months of collections in fiscal year 2025. - Based on Census of Agriculture data, cattle inventory remained constant, therefore no growth reflected. - Local revenue estimates use the rural average local sales and use tax rate of 1.88%. Data Sources - Department of Revenue, Excise tax data - U.S. Department of Agriculture, Census of Agriculture Additional Additional Information Information Category: Business Year Enacted: 1996 Primary Beneficiaries: Ranchers who purchase semen for artificial insemination of livestock Taxpay