Exporters should be aware of a tax benefit that has been available for the past thirty-five years but which is not well-known. The benefit, known as the interest charge-domestic international sales corporation (IC-DISC) is generally available to businesses whose exports have at least 50% of their fair market value from U.S. sources and may benefit companies with significant revenue from exports. Revenue from the sale of manufactured goods, architectural services, entertainment products, and software qualify for the benefit.
The U.S. Commercial Service and the Kentucky World Trade Center are co-sponsoring a webinar to discuss the topic, and more information on the webinar may be obtained here. Of course, companies interested in establishing the IC-DISC should contact a tax professional or legal counsel.