Business assets zakat
Business assets can be either trading assets or exploited assets
Trading assets: like inventory of trading goods (merchandise), properties held with clear intention to sell, products made/manufactured for sale (including the basic materials involved in the process). Here zakat is due on assets (assets x 2.5%)
Exploited assets: are assets that are not for sale itself. However they produce income like rental businesses and service (repair/consulting/professional) business. Here zakat is due on net income (net income x 2.5%)
Farming
Crops mostly from non-irrigated land (zakatable at 10%)
Crops mostly from irrigated land (zakatable at 5%)
Crops equally from both types of lands (zakatable at 7.5%)
Mining
Like found treasures, mining, oil and gas (zakatable at 20%)
Livestock and animal businesses
Buying and selling animals frequently makes them trading good and should be zakatable at 2.5% of the wholesale market value of the animals
Raising livestock that graze on grass (sheep, goats, cows, buffalos, camels, etc.) for commercial uses (above nisab stated below) is zakatable according to a table (see below). However, if livestock is fed by a puchased feed, then it is not zakatable
For non-livestock animal business like fish or chicken, pay 2.5% on the remaining money (after expenses) in the business (at the zakat evaluation date)
For animal products business like milk (dairy), meat, egg, silk, etc., pay 2.5% on the remaining money (after expenses) in the business (at the zakat evaluation date)
Honey is mentioned in a separate hadith and zakatable at 10% according to our scholar
Animal used strictly for labor are not zakatable (like equipment)
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