Aquaculture feed

From the 2024 DOR Tax Exemption Study

82.08.0294; 82.12.0294 - Aquaculture feed Description Aquaculture is the process of growing, farming, or cultivating aquatic products in marine or fresh waters. Feed purchased for fish or other aquatic products for sale, raised entirely within confined rearing areas where the person has the present right of possession are exempt from sales and use taxes. Purpose To provide equivalent treatment with those who purchase feed for other agricultural livestock. Fish farmers purchasing feed are not subject to sales and use taxes. This recognizes aquaculture and agriculture activities as equivalent in status and treatment. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes Minimal Minimal Minimal Minimal Local Taxes Minimal Minimal Minimal Minimal 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 Minimal Minimal Minimal Assumptions - This repeal takes effect July 1, 2024, and impacts 11 months of collections in fiscal year 2025. - Annual amount remains constant based on the fluctuation of the d