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August 2017

Are Your Manufacturing Clients Utilizing this Tax Exemption?

McGuire Sponsel would like to remind clients about Energy Impact, one of our strategic partners. Energy Impact helps businesses in 30 states uncover sales tax exemptions on utilities used in the manufacturing or production process. In order to determine the precise amount of energy being used, production versus nonproduction usage is separated on all eligible utility meters.

Since the key requirement is that a business must use utilities in the manufacturing or production process, a common question is, “What is considered manufacturing or production?” Some examples that qualify include: manufacturing, fabrication, remanufacturing, blending, prefabrication, recycling, R&D, processing, mining and food preparation (select states). Energy Impact offers a free consultation to determine whether a business qualifies for the exemption.

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Trusted Partners.
Proven Solutions.

Conceived out of the need to provide tested and proven specialty advisory solutions, McGuire Sponsel partners with accounting firms to offer cost segregation studies, research and development studies, IC-DISC studies, and financing & economic incentive opportunities.


Planning in an Uncertain Tax Environment Part Two

Dave McGuire

In a recent article, we discussed the possibilities of tax reform and how to utilize tax planning measures in an uncertain tax environment. McGuire Sponsel would like to take a moment to revisit this topic.  To date, the Border Adjustment Tax has been tabled and comprehensive tax reform is looking less likely. That said, there are still certain levels of the government that are pushing for tax reform before year-end.

Permanent tax reform will be difficult without changing the reconciliation rules.  Under the current rules, a 60 vote majority will be required if reform is not revenue neutral. Without the Border Adjustment Tax, the odds of a large scale reform being revenue neutral is low, even with aggressive growth projections. 

McGuire Sponsel Procures $590,000 in Incentives for GEMCO


McGuire Sponsel secured $590,000 in incentives for GEMCO, LLC, a mechanical, electrical and plumbing specialist (MEP) that delivers design build solutions. The firm helped GEMCO select an ideal location for growth, while securing state and local training grants and tax credits.

Servicing distribution centers, manufacturing facilities, mixed-use retail and office buildings in 29 states, GEMCO currently has offices in Indiana, Florida, Illinois, Tennessee and Texas. With 36 employees in Indiana and 72 nationally, GEMCO has plans to create approximately 80 new jobs over the next five years. Training programs will also be expanded due to continued business growth and the hiring of additional employees.


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