SALT Report 2967 – The Minnesota Department of Revenue is offering a free capital equipment and industrial production course. The course is designed for businesses that make products that will be sold at retail. All business owners, bookkeepers, purchasing agents, and accountants who would like a better understanding of how Minnesota sales and use tax laws affect product makers and the manufacturing process are encouraged to attend. The course will focus on the “Industrial Production Process” and the items that qualify for the Capital Equipment Refund.
By the end of the class you will have a better understanding of:
- When you owe sales or use taxes
- What qualifies as capital equipment
- The difference between capital equipment refunds and industrial production exemptions
- How the use of goods determines if an item qualifies for a sales tax refund, an upfront exemption, or neither, and
- What types of refunds and exemptions are available to businesses engaged in industrial production
These classes are being offered in several locations throughout the state. If you would like to attend a class you can register by clicking on the location you would like to attend.
For Further Information