Disclosures
2006, August
![slide2](/sites/default/files/styles/large/public/2022-03/slide2.jpg?itok=cWg8la18)
In 2004, to help offset the repeal of a tax break for U.S. exporters, Congress created a new deduction for U.S. businesses.
The Code Sec. 199 deduction is allowed to all taxpayers — individuals, C corporations and farming cooperatives, and estates, trusts and their beneficiaries. The deduction is allowed to partners and the owners of S corporations, and may be passed through by farming cooperatives to their patrons. And, despite the deduction’s history, it’s fully available to taxpayers who don’t export.
Download the PDF below to read the article!