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 - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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