Without being too technical, most states provide some basic exemptions or exclusions from the standpoint of sales & use taxes on certain purchases made by a manufacturing companies. Some examples include: raw materials (ingredients or component parts), machinery used in manufacturing, packaging materials, and more recently in North Carolina electricity and natural gas used in the production process. In many states, North Carolina included, the definitions, rules and laws governing these exemptions change periodically. Over the past several years the method in which North Carolina applies sales tax to certain utilities and business classifications have shifted. If you are a manufacturer in Transylvania County and have been paying sales tax on certain utilities as part of your bill over the past few years you may be eligible for a credit towards your bill. Because many manufacturers use elevated levels of utilities for the production of goods/products this credit could be significant. If you would like to learn more about this credit, industrial businesses are encouraged to inquire about this effort with your electric and/or natural gas provider. If you have questions about how to begin that process please contact Eric Caldwell, Director of Existing Business Services to learn more.
Pisgah Laboratories, Inc., Announces $55 million Multi-Phase Expansion in Transylvania County
Pharmaceutical manufacturer Pisgah Laboratories, Inc., has announced a $55 million multi-phase expansion in Transylvania County, which will create at least 55 new local jobs by the year 2026. Pisgah Labs was founded locally in 1981 and currently operates a...