The IC-DISC (interest charge domestic international sales corporation) survived the Tax Cuts and Jobs Act of 2017 (TCJA). For those who may not be familiar with the IC-DISC, it is an export incentive for U.S. domestic companies whereby income related to export sales can be taxed at a lower capital gain rate.
OMA Connections Partner, Clark Schaefer Hackett (CSH), commented: “While this is great news for companies that have taken advantage of the IC-DISC in the past, other provisions of the new sweeping tax reform may still impact your IC-DISC starting in tax year 2018. Therefore, it’s very important to include the IC-DISC when you consider the impact of the overall tax reform changes to your company.”
Read more about this from CSH here. 1/26/2018