Taxation
California’s tax policies must be fair and foster investment in the manufacturing sector. Tax credits and deductions are vital to creating additional employment, expansion of the manufacturing base, and increasing California’s economic opportunity.
How MUN CPAs is Helping Manufacturers with the Employment Retention Credit (ERC)
Take a look at how MUN CPAs is aiding CMTA member QMP Inc. in Valencia, CA. MUN CPAs is a trusted advisor helping manufacturers stay competitive in California. Hear from Neil Beeman with MUN CPAs on how they are helping QMP with its Employment Retention Credit (ERC)....
Manufacturing Minute: Update on Key Maker Bill and More
On this week's Manufacturing Minute, Ananda Rochita shares updates on CMTA Maker Assembly Bill 628, Export-Import Bank of the United States Chair and President Reta Jo Lewis in Sacramento, and a look at the second annual CMTA golf tournament. Click on the photo below...
Manufacturing Maker AB 52 Passes Unanimously Through California State Assembly Floor, Heads to Senate
Sacramento, Calif. – The California Manufacturers & Technology Association (CMTA) is pleased to announce today that Assembly Bill 52 (Grayson) passed the California State Assembly Floor with a 77-0 vote. "Investing in the future of manufacturing goes hand in hand...
Manufacturing Leader’s Statement on AB 1951 Following Hearing in State Senate Committee on Government and Finance
Sacramento, CA - California Manufacturers & Technology Association (CMTA) President and CEO, Lance Hastings today issued the following statement in response to AB 1951 receiving the votes needed to leave the Senate's Committee on Governance and Finance:...
Press Releases
How MUN CPAs is Helping Manufacturers with the Employment Retention Credit (ERC)
Take a look at how MUN CPAs is aiding CMTA member QMP Inc. in Valencia, CA. MUN CPAs is a trusted advisor helping manufacturers stay competitive in California. Hear from Neil Beeman with MUN CPAs on how they are helping QMP with its Employment Retention Credit (ERC).
Manufacturing Minute: Update on Key Maker Bill and More
On this week’s Manufacturing Minute, Ananda Rochita shares updates on CMTA Maker Assembly Bill 628, Export-Import Bank of the United States Chair and President Reta Jo Lewis in Sacramento, and a look at the second annual CMTA golf tournament. Click on the photo below to watch the video.
Manufacturing Maker AB 52 Passes Unanimously Through California State Assembly Floor, Heads to Senate
Sacramento, Calif. – The California Manufacturers & Technology Association (CMTA) is pleased to announce today that Assembly Bill 52 (Grayson) passed the California State Assembly Floor with a 77-0 vote.
“Investing in the future of manufacturing goes hand in hand with our commitment to economic growth,” said Lance Hastings, CEO & President of CMTA. “We applaud the members of the Assembly that supported AB 52. We not only will fuel innovation and productivity but also lay the foundation for job creation and a thriving economy. It is through strategic incentives like this that we can foster an environment where businesses can flourish, driving technological advancements and gearing industries forward.”
The CMTA-sponsored measure is a manufacturing tax credit equal to the local portion of the sales and use tax to purchase qualified manufacturing and R&D equipment. This measure aligns California with 38 other states who already credit or exempt manufacturing equipment, allowing our manufacturers to continue to innovate and produce at the highest levels.
AB 52 will reinvigorate California’s economy, with an estimated 163,000 new manufacturing jobs expected to be created and $1.5 to 3.5 billion in new economic activity if passed, according to the Economic Strategy Institute. This measure supports small and medium-sized manufacturers and will generate millions for services while keeping manufacturers in line with the state’s sustainability goals.
“Every Californian wins when manufacturing grows. Opportunities are created for the middle class, our economy gets stronger, and our state revenues reap benefits from an influx of economic activity,” said Assemblymember Tim Grayson (D-Concord). “AB 52 will benefit cities across the Golden State by keeping manufacturers in California and increasing our competitiveness for new investments.”
AB 52 now heads to the Senate.
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About CMTA
The California Manufacturers & Technology Association has advocated for pro-growth laws and regulations before the California legislature and administrative agencies since 1918. The total output from manufacturing in California is $300 billion per year, roughly 10 percent of the total economic output of the state. Manufacturers employ 1.3 million Californians paying wages more than $25,000 higher than other non-farm employers in the state. For more information, visit CMTA’s website.
Manufacturing Leader’s Statement on AB 1951 Following Hearing in State Senate Committee on Government and Finance
Sacramento, CA – California Manufacturers & Technology Association (CMTA) President and CEO, Lance Hastings today issued the following statement in response to AB 1951 receiving the votes needed to leave the Senate’s Committee on Governance and Finance:
“Groundbreaking inventions and world-leading production advancements take partnership. Today’s vote sends a firm signal to manufacturers worldwide that California stands ready to invest in its creators, now and in the future. As it is, California collects little from this sales tax, as most manufacturing equipment is purchased in states without equipment taxes. This bill solves that problem.
By giving manufacturers in the Golden State that competitive edge against other low-cost states, we bolster the economic future and opportunity of communities across all of California’s diverse regions. Manufacturing provides a gateway to the middle class, and each manufacturing job supports at least 2.5 others in the economy. With today’s vote, we are one step closer to seeing more California-made products on store shelves across the country, more Californians in high-quality jobs, and more homegrown innovation in the state that has always done it best.”