|By PR Newswire||
|March 27, 2014 06:54 PM EDT||
DALLAS, March 27, 2014 /PRNewswire/ -- Minnesota Governor Mark Dayton signed legislation that exempts sales and purchases for telecommunications or pay television services machinery and equipment from sales and use tax effective April 1, 2014. The machinery and equipment must be purchased or leased for use directly by a telecommunications or pay television services provider and be used primarily in the provision of telecommunications or pay television services that are ultimately to be sold at retail regardless of whether purchased by the owner, a contractor, or a subcontractor.
H.F. No. 1777, which amends Minnesota Statutes 2012, section 297A.68, supersedes H.F. 677, which repealed a similar exemption effective for sales and purchases made after June 30, 2013. The exemption does not apply to wire, cable, fiber, poles, or conduit for telecommunications services.
Ryan is an award-winning global tax services firm, with the largest indirect and property tax practices in North America and the seventh largest corporate tax practice in the United States. Headquartered in Dallas, Texas, the Firm provides a comprehensive range of state, local, federal, and international tax advisory and consulting services on a multi-jurisdictional basis, including audit defense, tax recovery, credits and incentives, tax process improvement and automation, tax appeals, tax compliance, and strategic planning. Ryan is a three-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan's multi-disciplinary team of more than 1,600 professionals and associates serves over 9,000 clients in 40 countries, including many of the world's most prominent Global 5000 companies. More information about Ryan can be found at www.ryan.com.
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