Indiana Sales Tax Exemption for R&D Property

| Business Miscellaneous

The Indiana Dept. of Revenue has issued an information bulletin that expands the definition of “property” for the sales tax exemption on R&D property.  Previously, property exempt from sales tax did not include consumables, hand-powered tools or property with a useful life of less than one year.  The old exemption expired June 30, 2013 and was replaced with a new provision that expands the definition of exempt property to include consumables, hand-powered tools and items with a life less Read more [...]