ARM 42.19.1205. DEFINITIONS

The following definitions apply to this subchapter: (1) "Value added" means an increase in the worth of the product being produced and not merely an increase in existing production. The tax incentive is limited to manufacturing machinery and equipment involved in the value added process. If the department determines that manufacturing machinery and equipment qualifies for the tax incentive, the application must still be approved by the governing body of the local taxing jurisdiction.