The State of California has enacted a new law effective July 1, 2014, allowing manufacturers and certain Research and Development (“R&D”) companies a partial sales/use tax exemption on certain manufacturing and R&D equipment purchases.
This tax alert contains information on the following:
- How much Sales or Use Tax is Exempt?
- Who is Eligible?
- Who is a Qualified Purchaser?
- What is Qualified Property?
- What Process must the Property be Used in?
- GHJ’ Recommendation
