Tax Exemptions

Tax Exemptions

To help your business grow, we offer several exemptions for property and sales taxes.

Exemptions and Incentives Against Property Tax

  • No tax on inventory, intangibles, or pollution control equipment.
  • Five-year abatement of the county operating portion of property tax, lowering the millage rate by approximately 33%. Generally, this saves 20-25%, with a low investment requirement of $50,000.
  • Opportunity to negotiate with the county for a fee-in-lieu of property taxes. With a minimum $2.5 million capital investment, a county can substitute a 20-year fee schedule with a reduced assessment rate (as low as 6%) in place of standard property tax payments.
  • Special Source Revenue Credits which are a rebated percentage of paid property taxes used to help offset infrastructure improvements.

Exemptions from Sales Tax

  • Sales tax exemption on manufacturing equipment and electricity.
  • Sales tax exemption on machinery used in research and development.
  • No value-added taxes.
  • No wholesale sales tax.
  • No tax on packaging materials.