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New FL Sales & Use Tax Exemption on Industrial Machinery & Equipment

Posted by McDonald & Osborne Posted on Oct 14 2015

Florida Dept of Revenue – “Effective April 30, 2014, an exemption from sales and use tax is available for purchases of industrial machinery and equipment used at a fixed location in Florida by an eligible manufacturing business that will manufacture, process, compound, or produce for sale items of tangible personal property. The exemption also includes parts and accessories for the industrial machinery and equipment if they are purchased before the date the machinery and equipment are placed in service.”

“An “eligible manufacturing business” means any business whose primary business activity at the location where the industrial machinery and equipment are located is within the industries classified under manufacturing NAICS (North American Industry Classification System) codes 31, 32, and 33 published in 2007 by the Office of Management and Budget, Executive Office of the President. The primary business activity of an eligible business is that activity which represents more than 50 percent of the activities conducted at the location where the industrial machinery and equipment are located.”

For more information see http://dor.myflorida.com/dor/tips/tip13a01-06.html

Stephen Osborne, CPA
Certified Public Accountant
sosborne@mo-cpa.com

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