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UP FRONT CAPITAL EQUIPMENT EXEMPTION LAW CHANGE

Starting July 1, 2015, the Minnesota capital equipment refund will become an up-front sales tax exemption.

The capital equipment sales tax exemption applies to machinery and equipment purchased for manufacturing, fabricating, mining or refining products to be sold at retail.

To claim the exemption on eligible purchases, businesses must give the supplier a completed Minnesota Form ST3, Certificate of Exemption.  Use exemption reason code for “Capital equipment”.

Before July 1, businesses were required to pay sales tax when purchasing eligible capital equipment and then file a refund request with the Department of Revenue.

Please call our office if you’d like to discuss how this sales tax exemption applies to your business.

For more information, see please click on the link below.

http://www.revenue.state.mn.us/businesses/sut/factsheets/FS103.pdf


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