HOUSE PROPOSED TAX BILL IS GAME CHANGER FOR MANUFACTURING
TALLAHASSEE, Fla. – The Manufacturers Association of Florida (MAF) applauds the House Finance and Tax Committee for including the permanent sales tax exemption on manufacturing machinery and equipment, along with a reduction in business rent tax, in the Committee’s proposed tax package.
“The support of the House Finance and Tax Committee on these issues shows Florida’s families and businesses that lawmakers are invested in their success” said Nancy Stephens, Executive Director of MAF. “For the past 12 consecutive months, manufacturing has added 9,200 new jobs in Florida, growing not only the economy, but allowing small businesses to invest back into their community with the creation of new jobs and higher wages. The permanent sales tax exemption on manufacturing machinery and equipment, along with the reduction in business rent tax, will propel Florida forward to compete for employment, new business creation, and expansion. MAF appreciates the House Finance and Tax Committee for their support of Florida manufacturers, their businesses and their ability to create new jobs.”
The House’s proposed tax package also extends the manufacturing machinery and equipment sales tax exemption to include metal recyclers. “Manufacturing companies use a tremendous amount of metal” added Stephens. “By adding metal recycling machinery to the bill, the Legislature will further reduce manufacturers’ production costs.” The temporary sales tax exemption on manufacturing machinery and equipment was passed by the Florida Legislature in 2014 and will expire in 2017. We thank Representative Magar for bringing this issue to the attention of the House Committee.