MACHINERY TAX

Paul Fogleman,

The House version of the state budget removes the tax on manufacturing equipment. The Hosiery and Textile Governmental Affairs Council has worked to remove this tax over the past several sessions. The Senate budget leaders kept the machinery tax in the budget. House leaders say they will stand firm to eliminate the assessments. HTGAC argues the mill punishes companies that are re-tooling for 21st century manufacturing in the U.S. Entrepreneur start-up companies also are helped with removal of the tax.

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