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An Interest-Charge Domestic International Sales Corporation (IC-DISC) is categorized as a domestic C corporation that is tax-exempt for federal income tax purposes. However, in order to obtain this tax-exempt status, the corporation must file Form 4876-A, Election to Be Treated as a DISC, within 90 days of its first taxable year. The IC-DISC tax incentive for exporters of U.S.-manufactured products offers the opportunity to decrease federal income tax on a portion of exports by 20 percentage points. Do you know how to qualify and implement a corporation as an IC-DISC, including determining qualified export property and calculating the commission? Can you
identify structures to satisfy different business scenarios to maximize IC-DISC benefits? Don't worry! This webinar will guide you on how to maximize the tax benefits of the IC-DISC for domestic corporations that primarily engage in foreign sales and exporting activity.
Key Learning Objectives- Tax Benefits of IC-DISCs
- Initial IC-DISC Set Up
- IC-DISC Qualified Export Receipts
- IC-DISC Qualified Export Property
- IC-DISC Commission
- IC-DISC Structures
- Planning Opportunities
- Higher-level Compliance Issues
- IC-DISC Qualified Export Assets
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Mark A. Loyd
Partner, Chair of Tax & Finance Group at Bingham Greenebaum Doll LLP. His areas of practice concentration are state, local and federal taxation, tax litigation, tax controversy resolution and tax planning for multistate and multinational companies. He is licensed to practice law in Kentucky, Indiana, Ohio and Tennessee. |
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