Landmark business tax relief bill on way to White House
Oct. 13, 2004
Effective Jan. 1, 2005, a tax deduction for a portion of income from domestic production activities, limited to 50% of wages (9% deduction fully phased-in by 2010) applies to Subchapter C corporations, S corporations, sole propretorships, partnerships, cooperatives, and estates and trusts. Compute your savings with the National Association of Manufacturers online calculator by clicking here. (Requires Microsoft Excel)
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