Georgia § 48-5-504 Self-propelled farm equipment as subclassification of motor vehicle for ad valorem taxation purposes

Georgia Statutes

§ 48-5-504 — Self-propelled farm equipment as subclassification of motor vehicle for ad valorem taxation purposes

(a)As used in this Code section, the term:

(1)"Dealer" means any person who is engaged in the business of selling farm equipment at retail.

(2)"Farm equipment" means any vehicle as defined in Code Section 40-1-1 which is self-propelled and which is designed and used primarily for agricultural, horticultural, forestry, or livestock raising operations.

(b)Self-propelled farm equipment which is owned by a dealer and held in inventory for sale or resale shall constitute a separate subclassification of motor vehicle within the motor vehicle classification of tangible property for ad valorem taxation purposes. The procedures prescribed in this chapter for returning self-propelled farm equipment for ad valorem taxation, determining the application rates for taxation, and collecting the ad val

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(a) As used in this Code section, the term: (1) "Dealer" means any person who is engaged in the business of selling farm equipment at retail. (2) "Farm equipment" means any vehicle as defined in Code Section 40-1-1 which is self-propelled and which is designed and used primarily for agricultural, horticultural, forestry, or livestock raising operations. (b) Self-propelled farm equipment which is owned by a dealer and held in inventory for sale or resale shall constitute a separate subclassification of motor vehicle within the motor vehicle classification of tangible property for ad valorem taxation purposes. The procedures prescribed in this chapter for returning self-propelled farm equipment for ad valorem taxation, determining the application rates for taxation, and collecting the ad valorem taxes imposed on self-propelled farm equipment do not apply to self-propelled farm equipment which is owned by a dealer and held in inventory for sale or resale. Such self-propelled farm equipment which is owned by a dealer and held in inventory for sale or resale shall not be returned for ad valorem taxation, shall not be taxed, and no taxes shall be collected on such self-propelled farm equipment until it is transferred and then otherwise, if at all, becomes subject to taxation as provided in this chapter.

Georgia § 48-5-504 (Self-propelled farm equipment as subclassification of motor vehicle for ad valorem taxation purposes) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.