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The American Jobs Creation Act of 2004, recent major corporate tax-cut legislation, added new Internal Revenue Code section 199, which permits taxpayers to claim a deduction from taxable income attributable to domestic production activities. Section 199 provides benefits to a much larger group of businesses than those traditionally considered “manufacturers.” As a result, it presents a potentially significant tax planning opportunity for taxpayers—including grocers—that might not ordinarily place themselves under the manufacturing umbrella.
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Learn more about how Section 199 can provide tax benefits to grocers.
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Last Updated: April 28, 2006
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Source: Deloitte & Touche USA LLP - United States (English)
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