Manufacturing Public Policy News UpdateApril 6th, 2015 by gainesvillechamber
The Gainesville Area Chamber supports bills currently under consideration by the Florida Legislature that would make permanent the current three-year exemption in effect relieving certain manufacturers of having to pay Manufacturing Machinery & Equipment Sales & Use taxes. It is estimated that Florida manufacturers could save $141 million annually through 2017 by taking advantage of the exemption.
The Senate version of the bill—SB 544—unanimously passed the Senate Finance & Tax Committee with support from the vast majority of public commenters, and now is pending a hearing in the Senate Appropriations Committee. The House companion—HB 613—remains pending in the House Finance & Tax Committee.
During a recent federation call relating to these bills, the Chamber learned that some manufacturers are not clear on how to take advantage of the exemption. If you are a manufacturer in the area and are not taking advantage of savings via the current exemption, visit the Florida Department of Revenue’s landing page to learn whether you qualify and find out how to print the documentation you need to get the exemption at the point of sale. If you are using the exemption and have already realized savings, please take a moment to tell us more about how the exemption has helped your company.