Mgmt520- Week#2

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GM520 - Week 2 Homework
1. State the administrative agency which controls the regulation. Explain why this agency and your proposed regulation interests you (briefly). Will this proposed regulation affect you or the business in which you are working? If so, how? Submit a copy of the proposed regulation along with your responses to these five questions. The proposed regulation can be submitted as either a separate Word document (.doc) or Adobe file (.pdf). This means you will submit two attachments to the Week 2 Dropbox: (1) a Word doc with the questions and your answers and (2) a copy of the proposed regulation you used for this assignment. (10 points)
Nebraska Department of Revenue – I own an operating farm in the state of Nebraska and this new bill hold potential tax saving.

This will affect me by potentially reducing or refunding the sales and use tax liability on farm equipment.
2. Describe the proposal/change. (10 points)
This bill will eliminate the application and imposition of sales and use tax on the “sale, lease, or rental of and the storage, use, or other consumption” of repair or replacement parts for agricultural machinery and equipment used in commercial farms.
3. Write the public comment which you would submit to this proposal. If the proposed regulation deadline has already passed, write the comment you would have submitted. Explain briefly what you wish to accomplish with your comment. (10 points)
My comment is that the elimination of sales and use tax on repairs or parts on farm equipment will be beneficial for farm owners in immediate tax saving and on employees working on farms as this cost saving to farm owners will enable them to have more immediate free cash flows to compensate employees at a higher rate or hire additional employees to reduce workloads or increase efficiency.
I would like them to see the benefits to farmers and…...

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