- Texas Court of Appeals ruled that equipment used for extracting and processing coal qualifies for a tax exemption.
- The ruling allows processing to be performed on real property.
- Activities previously seen as preparation may now be considered processing, allowing for tax exemptions.
- To qualify for exemption, equipment must cause a chemical or physical change to the product.
- The product must be tangible personal property intended for sale.
- Taxability determinations will be applied starting July 1, 2025.
- Materials previously nontaxable may become taxable if processed in a way that causes a change.
Source: www2.deloitte.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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