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What is the Michigan agricultural tax exempt form?

When a property owner files Form 2599 and initially claims a new qualified agricultural property exemption, the assessor must determine whether the parcel is entitled to the qualified agricultural property exemption. If it is not eligible, the assessor can deny (or partially deny) the exemption.

What is the tax break for farming in Michigan?

Tax Credits: The landowner is entitled to claim a Michigan income tax credit equal to the amount of the property taxes on the land and improvements covered by the agreement, less 3.5% of the landowners total household income.

What is a tax exempt form Michigan?

Instructions for completing Michigan Sales and Use Tax Certificate of Exemption (Form 3372) Purchasers may use this form to claim exemption from Michigan sales and use tax on qualified transactions. All fields must be completed; however, if provided to the purchaser in electronic format, a signature is not required.

How many acres do you need to be considered a farm in Michigan?

(h) Farmland means 1 or more of the following: (i) A farm of 40 or more acres in 1 ownership, with 51% or more of the land area devoted to an agricultural use.

What is the form 3676 in Michigan?

This form must be filed to claim that a transfer of property is not a statutory transfer of ownership because the property will continue to be qualified agricultural property.