Star S Ranch Auction Catalog - Flipbook - Page 115
TERMS AND CONDITIONS
Transfer and Possession: The buyer will take possession only when full payment is received. All risk will carry over to the buyer
once the animal/animals are safely loaded onto the buyers transport. Texas Premium Game Breeders and their guest sellers
agrees to maintain, in good condition, the animals purchased in this auction until full settlement is made and the animals
purchased on this auction have been loaded onto the buyer’s transport.
Delivery and/or transport of the animals and any associated costs are solely for the buyer’s account.
Liability: All persons who attend this auction do so at their own risk. Neither Texas Premium Game Breeders its guest sellers,
auctioneer nor employees assume liability, legal or otherwise, for any accidents which may occur.
Contract: The above terms and conditions shall constitute a contract between the purchaser and seller of each animal and/or
lot sold.
By entering a bid any prospective buyer binds himself or herself to these Rules of Auction, as well as any special conditions of
sale set forth in the auction catalog.
A NOTE ON LIVESTOCK
Under Section 179 and 168k, significant tax savings can be derived as a breeder of livestock.
Exotic wildlife are deemed to be livestock. Therefore, when purchasing exotic wildlife for the purpose of breeding, the
purchaser may deduct 100% of purchase price as well as all costs associated with the care of these animals in the year of
acquisition. The current maximum deduction in one year is limited to $2,500,000. If however, you exceed this amount, you may
use section 168k (Bonus Depreciation) to deduct any excess.
If you intend to be, or are a breeder of exotic wildlife, all purchases made today are able to be deducted in full for the tax year
2023.
