It's a permit number issued by your State Tax Commissioner to allow you to buy goods tax free for resale. Check with your state Tax Commissioner. If you're issued the number, you'll be required to file monthly reports on the amount purchased tax exempt, etc. Included in the monthly report will be a requirement to itemize items purchased tax free and converted to your own use, along with a check for the appropriate sales tax for those items.
It gets sticky in situations like ours, when we might purchase parts tax exempt for a particular project tractor or piece of equipment intending to resell it, and then decide to keep it ourselves instead of reselling it. You'd be expected to report those parts on your next monthly report.
Like I said above, contact your state Tax Commissioner for exact details. It varies from state to state.
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Today's Featured Article - Hydraulics - Cylinder Anatomy - by Curtis von Fange. Let’s make one more addition to our series on hydraulics. I’ve noticed a few questions in the comment section that could pertain to hydraulic cylinders so I thought we could take a short look at this real workhorse of the circuit. Cylinders are the reason for the hydraulic circuit. They take the fluid power delivered from the pump and magically change it into mechanical power. There are many types of cylinders that one might run across on a farm scenario. Each one could take a chapter in
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