On March 16, 2023, California Assembly Bill 52 (AB 52) was amended to provide a manufacturing equipment tax credit. If signed into law, taxpayers would be authorized to take an income tax credit for the portion of local sales or use tax paid for equipment that otherwise would qualify for the state’s partial exemption for purchases of certain manufacturing and research development equipment.
Will California Provide a De Facto Local Tax Exemption for the Sale or Use of Manufacturing Equipment?
