New Section 199 list describes exclusions — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
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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