Exporters and Manufacturers Can Benefit from an IC-DISC
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Karen: This is PKF Texas Entrepreneur's Playbook and I'm Karen Love, I'm the host and Co-founder. So today I'm here with Frank Landreneau, one of our international tax directors, so I'd like to welcome you to the Playbook, Frank.
Frank: Thank you Karen, it's great to be here.
Karen: Thank you. Well you know we're in Houston, international city and U.S. manufacturers and exporting, there may be some things that they need to know about that they're not doing that you could share with us.
Frank: Right. Well one of the best kept secrets is a tax incentive that's been around for a while, but it's gotten increased popularity over the last few years and it's called the IC-DISC.
Karen: Wow. Okay, now that sounds very, very, very complex. So tell me about that
Frank: It's an acronym for Interest Charged - Domestic International Sales Corporation and it's a tax incentive that allows tax payers to convert income at a lower tax rate.
Karen: Wow, now that sounds really complex, as I thought it was going to be.
Frank: It can be, it can be.
Karen: I would love for you to come back and do a series with us and explain how we can help companies do that at PKF Texas.
Frank: I'd love to. I'd love to talk about it in more detail.
Karen: Fantastic, look forward to having you back Frank.
Frank: Thanks Karen.
Karen: Thank you. We'll talk more next week about the IC-DISC and for other international topics you can visit www.PKFTexas.com/internationaldesk. This has been another Thought Leader production brought to you by the PKF Texas Entrepreneur's Playbook.