- Wisconsin revised its sales and use tax exemption for machinery and equipment used exclusively for qualified research.
- The exemption now also applies to certain persons engaged in contract research services.
- “Contract research services” are defined as research conducted on behalf of a customer that would qualify if done by the customer’s employees.
- “Qualified research” follows the definition in Internal Revenue Code section 41(d)(1) and includes research funded by combined group members or customers.
Source: 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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