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Manufacturing Tax Exemption Passes
Expanding the manufacturing tax exemption has passed the House and Senate in the H.738 Miscellaneous Tax bill and is now headed to the Governor’s desk. If signed into law, the expansion would exempt machinery and equipment used in integrated production operations and all ancillary processes between raw materials and finished goods, as well as some secondary packaging processes. The Vermont Chamber advocated for and supported this change, which will modernize Vermont’s tax law, enhance workforce recruitment and retention, modernize facilities, and make Vermont competitive with the 33 other states that have similar exemptions.
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