North Carolina Readopts Rules for Recycling and Resource Recovery Equipment
For manufacturing companies whose process includes the recycling of production scrap back into the manufacturing process, North Carolina has readopted the rules that impact the taxability of this equipment. Effective March 2021, the NC DENR readopted the rules that govern the tax treatment for recycling and resource recovery equipment and facilities, 15A NCAC 13B, specifically Sections 1501, 1502 and 1503. Some of the more significant changes to be aware of include the following:
Read MoreIndiana Sales Tax – Software as a Service Ruled Not Taxable
The Indiana Department of Revenue recently issued a ruling that a company’s Software as a Service (SaaS) model which allows customers to access its prewritten software via the internet was not subject to Indiana sales and use tax.
Read MoreIncrease In Exemption for the 2022 Indiana Business Tangible Personal Property Tax Filing
Beginning with the 2022 Indiana Business Tangible Personal Property filing, if the acquisition cost of a taxpayer’s total business personal property in a county is less than $80,000 as of the assessment date, the taxpayer’s business personal property in the county is exempt from taxation. This is an increase from the January 1, 2020, exemption which was $40,000.
Read MoreFlorida TRIM Notices Coming Soon!
Florida taxpayers will soon receive their notices of value, known as TRIM (Truth in Millage) Notices, which will reflect the proposed 2021 property values for both real and personal property.
Read MoreTexas Roll Back Legislation
What is a roll-back tax? What are the implications and how do they affect land owners?Texas values land exemptions according to the current utilization of the land. Exemption considerations are in place for special use land such as agriculture (ag), timber, recreational, park, or scenic land. The exemptions offered on special use land ease the tax burden for the land owner.
Read MoreArkansas SUT Guidance on Pollution Control Machinery
Arkansas allows for an exemption from sales and use tax for the sales of pollution control machinery and equipment to a manufacturer.
Read MoreIndiana Sales Tax - Manufacturer’s Use of Acetone Deemed Exempt
The Indiana Department of Revenue has ruled that a manufacturer’s use of acetone used to clean manufacturing machinery, tools and equipment qualifies for exemption from sales and use tax.
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MI Guidance on SUT Treatment of Food Containers
Due to the COVID-19 pandemic, the restaurant industry has experienced a greater reliance on take-out orders and food delivery services. Therefore, the Michigan Department of Treasury has issued additional guidance with respect to the sales and use tax treatment of food containers purchased for take-out orders and food delivery services.
Read MorePersonal Property Tax
In August, there was a bill signed that impacted property tax relief. Here are a few highlights.
Read MoreFinding Property Tax Information
Looking for information about property assessments and taxes? We can help!
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MI Issues Guidance on Industrial Processing PPE & Safety Equipment
The Michigan Department of Treasury recently issued guidance addressing the application of the sales and use tax industrial processing exemption for purchases of personal protective equipment (PPE) and safety equipment used to prevent infectious diseases.
Read MoreAdvocating for Personal Property Taxpayers
As we head into the 2021 tax season, consider how COVID-19 has impacted your property tax assessments.
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