Florida Legislature Passes Expanded Machinery and Equipment Exemption

DALLAS, May 21, 2013 /PRNewswire/ -- Florida has expanded its machinery and equipment exemption for manufacturing by the passage of House Bill 7007 ("H.B. 7007"). Governor Rick Scott is expected to sign the bill quickly. (Governor Scott sponsored the expansion of the credit as part of his economic development initiative for the state of Florida.) H.B. 7007 expands the machinery and equipment exemption to all manufacturing businesses in the state, not just those that will be increasing capacity or employment.

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H.B. 7007 is a broad economic development bill specifically designed to create a review process for economic development initiatives. For a full text of the bill, or if you have any questions about the new exemption, please contact the Ryan Principals listed below.

About Ryan
Ryan is an award-winning global tax services firm, with the largest indirect tax practice in North America and the seventh largest corporate tax practice in the United States. Headquartered in Dallas, Texas, the Firm provides a comprehensive range of state, local, federal, and international tax advisory and consulting services on a multi-jurisdictional basis, including audit defense, tax recovery, credits and incentives, tax process improvement and automation, tax appeals, tax compliance, and strategic planning. Ryan is a three-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan's multi-disciplinary team of more than 1,600 professionals and associates serves over 9,000 clients in 40 countries, including many of the world's most prominent Global 5000 companies. More information about Ryan can be found at www.ryan.com.

TECHNICAL INFORMATION CONTACTS:

Luke Krieger
Principal
Ryan
954.740.6240
[email protected]

Dave Naney
Principal
Ryan
213.627.1719
[email protected]

SOURCE Ryan, LLC

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