By Blake Jackson
Missouri farmers and food-based businesses heading into the holiday and winter market season now have access to a helpful new resource from University of Missouri Extension.
The publication, Missouri Farmers Market Sales Tax Exemption, is designed to help growers and direct-market vendors better understand when sales tax must be collected and when exemptions apply under state law.
“Many producers are selling at special holiday markets right now,” said Jennifer Lutes, MU Extension field specialist in agricultural business and policy and author of the guide. “This resource helps farmers understand the details of the exemption so they can stay compliant and confident in their sales.”
The guide breaks down how factors such as the vendor, selling location, product type and annual sales totals determine whether a transaction qualifies for the exemption. To make the process easier, the publication includes examples, terminology explanations and a step-by-step decision tree.
Lutes also reminds farmers that regulations can change. “Because sales tax rates and policies are subject to legislative changes, we encourage farmers to verify current rates and regulations directly with the Missouri Department of Revenue before each market season,” Lutes said.
Photo Credit: pexels-nataliya-vaitkevich
Categories: Missouri, Education, Rural Lifestyle