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The ProducersU.S. manufacturers and producers get a break under a new tax law.
ByJoan Szabo•
Opinions expressed by Entrepreneur contributors are their own.
One of the most generous business tax benefits included in theAmerican Jobs Creation Act of 2004 is a new deduction for"domestic producers." This provision replaces theextra-territorial income exclusion many exporters used in the pastbut that the World Trade Organization declared illegal in 2000.
Under the new tax law, the deduction gradually phases in as theexclusion for exporters phases out. In addition, it applies notonly to exporters, but also to many U.S. producers. As a result,many more entrepreneurs will benefit.
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