Fla. Bill Axing Sales Tax On Industrial Gear Clears Panel

Law360, Miami (April 1, 2013, 5:44 PM EDT) -- A Florida Senate panel voted unanimously before a supportive audience of Florida industrial groups that included drugmakers and utilities Monday to approve a bill that would create a comprehensive sales tax exemption on industrial equipment and nix a cap on an incentive program for defense contractors.

H.B. 518, sponsored by Sen. Dorothy L. Hukill, R-Port Orange, expands the state's existing exemption to all businesses in the state by eliminating a requirement that expanding businesses must demonstrate the purchases will increase productivity by at least 5 percent to...
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