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Sales and Use Tax Exemption for Purchases of Industrial Machinery and Equipment May 7, 2014

Effective April 30, 2014, an exemption from sales and use tax is available for purchases of industrial machinery and equipment used at a fixed location in Florida by an eligible manufacturing business that will manufacture, process, compound, or produce for sale items of tangible personal property. The exemption also includes parts and accessories for the industrial machinery and equipment if they are purchased before the date the machinery and equipment are placed in service.

An “eligible manufacturing business” means any business whose primary business activity at the location where the industrial machinery and equipment are located is within the industries classified under manufacturing NAICS (North American Industry Classification System) codes 31, 32, and 33 published in 2007 by the Office of Management and Budget, Executive Office of the President. The primary business activity of an eligible business is that activity which represents more than 50 percent of the activities conducted at the location where the industrial machinery and equipment are located.

The Greater Fort Lauderdale Alliance has been working with the Department of Revenue to clarify “eligible manufacturing business”. Several shipyards have already been recognized as eligible. If you have questions or would like assistance determining your qualifications please contact Todd Holt, Director – Business Development 954-627-0124 tholt@GFLAlliance.org.

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Marine Industries Association of South Florida. 221 SW 3rd Avenue, Fort Lauderdale, FL 33312. Phone: 954.524.2733