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New Thomson Reuters Content Offers Sales and Use Tax Exemption Guidance to Manufacturers

The latest topic added to Thomson Reuters Checkpoint Catalyst provides subscribers with a state-by-state analysis of the sales and use tax exemptions available for manufacturing-related purchases.

The new topic, Sales and Use Tax: Manufacturing, examines the exemptions for machinery and equipment, ingredients and component parts, and materials that are consumed or destroyed in production. Exemption documentation requirements and other issues are also discussed. The content includes practical insights and many detailed examples designed for tax practitioners who advise manufacturers or producers.

“Manufacturers face many challenges in managing their sales and use tax liabilities. Determining whether their purchases of machinery and equipment are taxable is one of their biggest difficulties,” said David A. Hughes, partner in Horwood Marcus & Berk’s State and Local Tax Group and author of the new content. “While most states provide some sort of exemption for machinery and equipment, the details vary greatly from state to state. This new Checkpoint Catalyst content is an invaluable tool for practitioners who navigate the many manufacturing exemption rules for themselves or their clients.”

Checkpoint Catalyst is a collection of multijurisdictional analyses of specific tax issues and business transactions from a practical, workflow perspective, covering implications at the federal, state and US international levels. Other topics in the Checkpoint Catalyst library include:

  • Sales and Use Tax: Nexus
  • Sales and Use Tax: E-Commerce
  • Sales and Use Tax: Drop Shipments

Thomson Reuters Checkpoint tackles market disruption through integrated research, editorial insight, productivity tools, online learning and news updates along with intelligent links to related content and software. It is relied on by hundreds of thousands of tax and accounting professionals, and counts among its customers 97 of the Top 100 U.S. law firms, 99 of the Fortune 100 companies, and all of the top 100 U.S. CPA firms.