Applied to qualified equipment purchases
Beginning July 1, 2014, manufacturers and certain research and developers may obtain a partial exemption of sales and use tax on certain manufacturing and R&D equipment purchases.
Qualified industries generally include those primarily engaged in the business of all forms of manufacturing, or R&D in biotechnology or the physical, engineering, and life sciences.
Qualified equipment includes but not limited to:
- Machinery and equipment, including component parts, moving parts and operating structures
- Equipment or devices used to operate, control, regulate or maintain the machinery, including computers and software, together with all repair and replacement parts with a useful life of one or more years
- Tangible personal property used in pollution control
- Special purpose buildings and foundations used as an integral part of the manufacturing, processing, refining, fabricating, or recycling process, or that constitute a research or storage facility used during those processes.
19.6% rate reduction
NET EFFECT
Over 100 industry leading companies love us
As a rapidly growing Company, we were beginning to see the dramatic tax consequences of our growth and good fortune. In lieu of our growing tax liabilities we engaged Carrazco and our expectations were dramatically exceeded. Through their Innovative Tax Strategies, Carrazco secured hundreds of thousands of dollars in tax savings for our Company. Needless to say, RB Spencer is proud to have a business relationship with a Firm that delivers on their promises.”
BOB SPENCER
President - RB Spencer, Inc
Carrazco - Innovative Tax Solutions thoroughly analyzed current and future tax saving opportunities as well as prior year possibilities. By implementing Carrazco's Innovative Tax Strategies our company was able to realize over $200K in tax refunds and future offsets, increasing company cash flow and dramatically improving our bottom line.
RYAN ROGERS
Lakeview Petroleum
Although we had some understanding of the tax incentives available through the Yuba-Sutter Enterprise Zone, we had never thoroughly pursued it under the impression that our Company was too small to benefit. That changed when we met the folks at Carrazco who guided us to take full advantage of the benefits we were entitled. Carrazco's business philosophy of ”No Results, No Fee” made it so we had nothing to lose and everything to gain. The process was efficiently streamlined to make things simple...the results, on the other hand, were extraordinary!
RANDY FLETCHER
Fletcher Insurance Services, Inc.