209E-11 State general excise exemptions. The department shall certify annually to the department of taxation that any qualified business is exempt from the payment of general excise taxes on the gross proceeds from an eligible business activity as defined in this chapter; provided that agricultural businesses other than those engaged in the production of genetically-engineered agricultural products shall not be exempt from the payment of general excise taxes on the gross proceeds of agricultural retail sales. The gross proceeds received by a contractor licensed under chapter 444 shall be exempt from the general excise tax for construction within an enterprise zone performed for a qualified business within an enterprise zone or a business that has been approved by the department to enroll into the enterprise zone program. The exemption shall extend for a period not to exceed seven years; provided that for qualified businesses engaged in the manufacturing of tangible personal property or the producing or processing of agricultural products, the exemption shall extend for a period not to exceed ten years; provided further that if a force majeure event occurs, then the period of time shall be tolled until the force majeure event ceases. [L 1986, c 78, pt of 1; am L 1989, c 390, 6; am L 1996, c 286, 3; am L 1997, c 262, 4; am L 2000, c 118, 4; am L 2002, c 146, 3; am L 2008, c 143, 5; am L 2009, c 174, 6]

 

Attorney General Opinions

 

Qualified businesses located in new enterprise zone (EZ) would be eligible for state tax incentives for seven-year period set forth in 209E-10(a) and this section, although a portion of that seven-year period extended beyond new EZ's five-year sunset date. Att. Gen. Op. 98-1.

 

 

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