topic I paid income tax for farmer's market sales last year not knowing there was an exemption if I made less than $25,000. How do I get a refund for this? in Get your taxes done using TurboTax

I paid income tax for farmer's market sales last year not knowing there was an exemption if I made less than $25,000. How do I get a refund for this?

Quntmphscs — Tue, 04 Jun 2019 20:05:37 GMT

The exemption for producers selling under $25,000 is for...

ValerieE — Tue, 04 Jun 2019 20:05:39 GMT

The exemption for producers selling under $25,000 is for a new FDA regulation, the Produce Safety Rule. This exemption does not impact your responsibility to report and pay income taxes on the income.

If you sell less than $25,000 you are not subject to the FDA's Produce Safety Rule as described here: http://www.fda.gov/Food/GuidanceRegulation/FSMA/ucm334114.htm

You do still have to report this income to the IRS as part of your federal tax return even if you are exempt from the FDA rule. There is no IRS rule exempting you from reporting your income if your sales were less than $25,000.

Missouri revised statues Chapter 144 section 144.527.1 sa...

Quntmphscs — Tue, 04 Jun 2019 20:05:39 GMT

Missouri revised statues Chapter 144 section 144.527.1 says "... there shall also be specifically exempted from state and local sales and use taxes defined, levied, or calculated under section 32.085, sections 144.010 to 144.525, sections 144.600 to 144.761, and section 238.235 all sales of farm products sold at a farmer's market." So I didn't have to pay sales tax last year on my farmer's market products, but I did.

Ah! Sorry. We do income tax returns and not sales tax r...

ValerieE — Tue, 04 Jun 2019 20:05:40 GMT

Ah! Sorry. We do income tax returns and not sales tax returns so I formed my answer based on income tax rules. If you overpaid sales tax you will need to contact your state department of revenue to find out how to claim a refund for the sales tax you overpaid.