California Extends Partial Manufacturing Exemption
Last Updated on September 5, 2024
Assembly Bill 398, includes various charges to the state’s partial sales and use tax exemption for manufacturing and R&D equipment. The exemption which began in 2013 was set to expire on July 1, 2022, has now been extended to July 1, 2030. Effective January 1, 2018, the exemption will also expand to include taxpayers involved in power generation as well as the agricultural industry. Bill 398 appears to be retroactive, so qualifying property that was purchased or assessed before January 1, 2018 would be eligible for a refund or taxes paid.