Tax & Accounting Blog

Florida Governor to Propose Exemption of Sales Tax on Manufacturing Equipment

Indirect Tax, ONESOURCE, Sales and Use Tax January 21, 2013

factory Florida Governor Rick Scott announced his proposal to exempt sales tax on manufacturing equipment during a visit to the Vistakon manufacturing plant in Jacksonville Wednesday.  While he did not give an idea of how much the state would lose in tax income if the legislature approves the bill, others have estimated it would be in the tens of millions of dollars.  Manufacturing jobs in Florida have been steadily declining overtime, and Gov. Scott emphasized that his goal in this proposal is to bring manufacturing plants and jobs back to the state economy.  If the proposal is passed, Florida hopes to level the playing field with other Southeast states, most of which already exempt manufacturing equipment from sales tax.