Electronic Products Tax Exemption Now Law
A tax incentive that could lure electronics plants to Oklahoma has been signed into law by Governor Brad Henry. House Bill 1544, by Rep. Susan Winchester, provides a sales tax exemption on the purchase of items used to remanufacture consumer electronic products.
"This law could herald the beginnings of a new industry in Oklahoma," said Winchester, R-Chickasha. "'Reverse logistics' has become a $50 billion-per-year industry in the United States and this sales tax break will make Oklahoma an attractive location for a remanufacturing facility."
The tax break is similar to one already on the books for other manufacturers. Businesses that remanufacture electronic products often repair previously sold goods that have proven defective and then resell them at a discounted price.
"This law could herald the beginnings of a new industry in Oklahoma," said Winchester, R-Chickasha. "'Reverse logistics' has become a $50 billion-per-year industry in the United States and this sales tax break will make Oklahoma an attractive location for a remanufacturing facility."
The tax break is similar to one already on the books for other manufacturers. Businesses that remanufacture electronic products often repair previously sold goods that have proven defective and then resell them at a discounted price.
Labels: Brad Henry, Sales Tax Exemption, Susan Winchester
posted by Mike McCarville @ 12:41 PM
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