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IC-DISC Offers Tax Breaks for Exporters

Posted 12:00 PM by

If your closely held company earns significant income from exporting manufactured products - or from engineering or architectural services on foreign construction projects - consider forming an interest charge domestic international sales corporation (IC-DISC). Many manufacturers have taken advantage of the IC-DISC as it is relatively inexpensive to set up and operate, and it can reduce your tax rate on qualifying sales by up to 20 percentage points.

To make the most of this strategy, it's a good idea to act sooner rather than later because, without additional Congressional action, this tax rate applies only through 2012.

About the Author
Jason Patch is a partner in Katz, Sapper & Miller’s Audit and Assurance Services Group and leads the firm’s Manufacturing and Distribution Services Group. Jason works with clients to ensure accurate financial reporting, keeping an eye on their bottom line, helping them avoid risk, and maximizing efficiencies. Connect with him on LinkedIn.

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