SIC Code Change Saves Manufacturing Tax

Started by Gil S. — 2 years ago — 1 views
Client was classified under SIC 2015 (poultry processing) and paying manufacturing tax on their Georgia Power bill. Turns out they should be classified as SIC 2011 (meat packing) which is exempt in Georgia. Simple code change saved them $680/month in state tax. Always worth double-checking SIC/NAICS classifications on industrial accounts.
Gil, great catch! Manufacturing tax exemptions are one of those things that often get missed. Had a pharmaceutical company that was classified wrong for 3 years - saved them $2,100/month going forward and got partial refunds for past payments. The state definitions can be pretty specific.