Tax planning strategies for sales and manufacturing activity.
For businesses with sales and manufacturing activity, tax incentives exist at the federal, state and local levels and can help offset tax liabilities and increase operating margins.
Available opportunities include:
- Interest Charge – Domestic International Sales Corporation (IC-DISC): provides for a permanent tax benefit for U.S. manufacturers that produce goods or services within the U.S. and export to foreign countries.
- Foreign Derived Intangible Income (FDII) Deduction: provides eligible corporate taxpayers with a permanent tax benefit by creating a preferential tax rate for income derived by U.S. C corporations serving foreign markets, including U.S. corporate subsidiaries of foreign multinationals.
- Additional incentives including sales tax exemptions, incentives for specific business activity such as film production, tax deductions such as Section 199A, and other cash-saving strategies including cost segregation studies and accounting method changes.
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