Gov. Scott Walker signed Senate Bill 448 today at Cashton Farm Supply. The bill ensures agriculture businesses investing in new technology and modern facilities will benefit from the sales and use tax exemption and encourages growth in Wisconsin's $59 billion agriculture industry.
"Agriculture is one of Wisconsin's premier industries, and I am proud of the advancements and innovations we're seeing among agriculture businesses," Walker said. "With this legislation, Wisconsin will continue to be a national leader in farming, supporting the use of new technology, as well as investments in new manufacturing equipment and building expansions. This law is another common-sense example of our ongoing effort to reform and update state regulations to encourage economic development and government effectiveness. "
Senate Bill 448 – clarifies the sales and use tax code for machines and equipment used in the agriculture industry. The exemption directly applies to fertilizer blending, feed milling and holding building construction and repair equipment. Under previous law, certain advanced equipment was deemed ineligible for the sales and use tax exemption. This bill ensures there is no tax disadvantage to updating equipment in agribusiness.
Sen. Terry Moulton (R-Chippewa Falls) and Rep. Lee Nerison (R-Westby) authored the bill, which passed both the Senate and Assembly with bipartisan support. It is Act 324.
Cashton Farm Supply was established in 1984 and is focused on organic feed manufacturing and distribution.