Better Business Webinar SeriesNews

IC-DISC: Learn How to Reduce Taxes on Export Income – LAEDC Better Business Webinar #5

By May 21, 2013 No Comments

LAEDC Better Business Webinar Series:

IC-DISC: LEARN HOW TO REDUCE TAXES ON EXPORT INCOME

On May 21, 2013, we held the fifth webinar of  LAEDC’s new Better Business Webinar Series, which focused on how your export business can take advantage of the IC-DISC tax incentive.  IC-DISC is a valuable tax incentive for exporters of products made in the U.S, and is a benefit that many do not realize is available. Tax laws provide an opportunity for manufacturers to use an IC-DISC to reduce their taxes on export income.  We heard from Stephen Ragow from TRCG Advisors.

You can download a copy of the slides here.

You can view a recording of the webinar here.

Key Points:

  • In considering whether your company would benefit from IC-DISC, revenue is not the main factor but rather the proportion of foreign business and whether your company meets the 50% US content rule.
  • You are unable to take advantage of IC-DISC unless you register with the IRS.  Once registered, you can apply the credits going forward.

Helpful Links:

IC-DISC Audit Guide

IC-DISC Application Instructions