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New Section 199 list describes exclusions

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in Small Business Tax

Under Section 199, a company can claim a deduction of 9% of income from domestic production activities. The deduction is available to traditional manufacturing firms as well as certain others. But now the IRS Large Business and International (LB&I) division has issued a directive listing several activities that don’t qualify for the Section 199 deduction. (LB&I-04-0315-001, 3/16/15)

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