Descripción

Individuals who operate a farming business are exempt from paying excise tax on “equipment, devices, or objects whose operation depends exclusively on solar, wind, hydraulic or any type of energy, excluding energy produced by petroleum or its derivatives.” An individual who wishes to take advantage of the exemption must comply with documentation requirements certifying that he/she is a “bona fide farmer.” To be considered a bona fide farmer, one must hold a certificate issued by the Secretary of Agriculture certifying that they are engaged in the conduct of an agricultural business, and derive fifty percent (50%) or more of their gross income from that agricultural business as an operator, owner or lessee, as declared on their income tax return.