Project Description

The State Board of Equalization (SBE) has issued guidance on the new 2013 legislation that allows certain businesses in manufacturing or in the fields of biotechnology or physical, engineering, and life sciences to purchase or lease manufacturing or research and development equipment at a reduced sales and use tax rate for purchases occurring on or after July 1, 2014. The partial exemption reduces the tax rate to 3.3125% plus applicable district taxes.