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Closely held companies whose goods or services are used outside the U.S. should consider setting up an IC-DISC to take advantage of significant tax savings. Taxpayers already availing themselves of the IC-DISC should take a closer look at where their products are ultimately used. Variability in profitability for goods and services used outside of the U.S. should also be considered to ensure that all available IC-DISC tax savings are realized.
Clair A. Rood, Jr. is the senior managing director of the CBIZ MHM, LLC Salt Lake City office. Rood specializes in corporate taxation with a focus on minimizing clients’ tax burden and maximizing profitability. He can be reached at 801.364.9300 or firstname.lastname@example.org.