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Corporate Taxes Internal Revenue Service Manufacturers

Eversheds Sutherland (US) LLP

IRS warns taxpayers using obsolete section 199 deductions

On February 25, the IRS issued a warning to taxpayers seeking to secure missed domestic production activities deductions under the now obsolete section 199. The IRS maintains that a high percentage of such claims are not...more

Gibney Anthony & Flaherty, LLP

Entering the US Market: Corporate Tax Considerations

As a manufacturer, selling your product(s) through an independent distributor is one way to enter the U.S. market without paying U.S. tax. The U.S. will seek to tax you if you have a business presence in the U.S...more

Bradley Arant Boult Cummings LLP

Automotive Suppliers in 2019: New Hope for R&D Credits - Economic Development News

As automotive suppliers begin work on their 2018 tax returns and implement plans for their capital expenditures in 2019, suppliers should look at a potential tax credit to help offset the costs of tooling: the Research and...more

Dentons

The Old, the New, and the Delayed DPAD for Cooperatives

Dentons on

The Old Domestic Production Activities Deduction - Prior to 2018, U.S. manufacturers, including farmers’ cooperatives, enjoyed a lucrative income tax deduction popularly known as the Domestic Production Activities...more

Eversheds Sutherland (US) LLP

Section 199 Scrutiny Continues: Chief Counsel Concludes that Merchant Discount Fees Don’t Qualify as Domestic Production Gross...

On October 23, 2017, the Internal Revenue Service Office of Chief Counsel (Chief Counsel) concluded that certain merchant discount fees earned by a parent company in a consolidated group did not constitute domestic production...more

Foley & Lardner LLP

Attention Taxpayers: New IRS Rules May Deem Debt to Be Stock

Foley & Lardner LLP on

In April, the IRS proposed rules that would treat debt between related corporations as stock for U.S. tax purposes. These rules would apply to all corporations (including regular C corporations, S corporations, foreign...more

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