U.S. Manufacturers–Are You Taking Your Tax Breaks?

U.S. Manufacturers–Are You Taking Your Tax Breaks?

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U.S. manufacturers face higher tax costs than almost all of our competitors in other countries. The corporate tax rate in America is the second highest among developed nations, and it puts the manufacturing industry at a significant competitive disadvantage in the global marketplace, according to the National Association of Manufacturers. For U.S. manufacturers, these statistics reveal that such taxpayers need to take advantage of any and all applicable tax breaks when they are available. It is concerning that many manufacturing businesses are not aware of some of the federal income tax breaks available to U.S. manufacturers through the Internal Revenue Code. Read more.

About the Author

Keiter CPAs is a certified public accounting firm serving the audittax, accounting and consulting needs of businesses and their owners located in Richmond and across Virginia. We focus on serving emerging growth businesses and companies in the financial servicesconstructionreal estatemanufacturingretail & distribution industries and nonprofits. We also provide business valuations and forensic accounting servicesfamily office services, and inbound international services.

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The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.


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