Florida Manufacturers Win Victory with Permanent Sales Tax Exemption

Date: March 14, 2016 Last Edit: March 17, 2016

During exemption, sales spiked more than 11 percent—a sign that it’s spurring the manufacturing economy.

Florida Small manufacturers scored a big win in March when the Legislature made permanent a sales tax exemption on manufacturing equipment.

Since the exemption has been in place since 2014, sales in the manufacturing sector have been up 11.2 percent, or about approximately $756 million a month, according to the Orlando Business Journal. Without action, it was set to expire in 2017.

The move will help the state’s estimated 19,000 manufacturing companies, which account for roughly 4.2 percent of Florida’s total jobs.

NFIB backed the bill, and championed its passage.

Related Content: Small Business News | Economy | Florida

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