When going global, you may qualify for IC-DISC, a significant tax incentive available to qualifying manufacturers, producers, resellers, and exporters of goods that are produced in the United States with an ultimate destination outside the United States.
Globig talks about IC-DISC with Mark Griswold, a CPA (Certified Public Accountant) and International Tax Senior Manager at Eide Bailly, one of the top accounting firms in the US.
Mark has worked in a variety of industries, including international taxation, real estate, manufacturing and professional services. He has significant experience with IC-DISC, including compliance and commission calculations.
Topics we discuss include:
1. What is an IC-DISC?
2. What benefit does IC-DISC provide?
2. What types of businesses can take advantage of the IC-DISC?
3. How does it work?
4. How is the commission amount calculated?
5. What export sales qualify to be included in the commission calculation?
6. What are some items to consider when implementing an IC-DISC structure?
7. Is this something that needs to be set up every year or only once? Do you get the benefit every year? Does the company and/or share holders benefit?
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If you have international offices with employees and business teams focused on foreign markets, the Globig platform is a must for saving valuable time and money, and for managing risk.