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 - Timing Your Magneto Ignition Tractor - by Chris Pratt. If you have done major engine work or restored your tractor, chances are you removed the magneto and spark plug wires and eventually reached the point where you had to put it all back together and make it run. On our first cosmetic restoration, not having a manual, we carefully marked the wires, taped the magneto in the position it came off, and were careful not to turn the engine over while we had these components off. We thought we could get by with this since the engine ran perfectly and would not need any internal work. After the cleanup and painting was done, we began reassembly and finally came to t
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