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.
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