New California Partial Sales Tax Exemption for Manufacturing Equipment
July 14, 2014
Under the exemption, a business will be allowed to exclude the ﬁrst $200 million of equipment purchases from the state share of sales tax (4.1875 percent) beginning July 1, 2014. The sales tax exemption will be available statewide until June 30, 2022
To qualify for the tax exemption, a company must be primarily engaged in certain industries, including all forms of manufacturing, research and development in biotechnology, and research and development in the physical, engineering, and life sciences. In the prior financial year, the person or entity must either derive 50 percent or more of gross revenue from, or expend 50 percent or more of operating expenses in, a qualifying line of business.
Contact your local Miyachi Sales rep today to take advantage of these savings!
About Amada Miyachi America
Since 1948, Amada Miyachi America, Inc. has worked to achieve one goal: to solve customer's manufacturing challenges. Knowing there is no one solution that fits all, the company strives to provide customers with innovative and reliable manufacturing technology solutions in an effort to be their single source provider. Amada Miyachi America manufactures equipment and systems for resistance welding, laser welding, laser marking, laser cutting, hermetic sealing and hot bar reflow soldering and bonding. The company serves a wide range of markets including medical devices, battery, aerospace, automotive and electronic components. Amada Miyachi America is an ISO9001 certified company. Contact Amada Miyachi America at email@example.com. Learn more about the company's products and services at www.amadamiyachi.com.