As IRC § 199 was billed as a manufacturing incentive, most people associate the IRC § 199 domestic production deduction with manufacturing activities.
However, the deduction, by its own terms, expressly applies to the construction and real estate development industries. As the phase-in of the deduction became complete in tax years beginning in 2010, construction contractors may be eligible for the full 9% of their total taxable income or 9% of their qualified production activities income. This OnDemand Webinar will outline the basic operation of the § 199 deduction and its applicability to contractors and real estate developers, including developers, general contractors, subcontractors and trade contractors. Learning Objectives: •You will be able to review the domestic production deduction. •You will be able to discuss the eligibility requirements for construction companies. •You will be able to identify the type of income that qualifies for the deduction. •You will be able to explain the safe harbors for de minimis nonconstruction activity and land values.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
An Overview of the Domestic Production Deduction, Its Operation and Calculation
The Eligibility Requirements for Construction Companies
The Type of Income That Qualifies for the Deduction
The Safe Harbors for De Minimis Nonconstruction Activity and Land Values
Recent Developments in § 199
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on March 15, 2012.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Frank Crociata
GALLAGHER & KENNEDY
- Shareholder in the Santa Fe, New Mexico office of GALLAGHER & KENNEDY and is licensed in Arizona and New Mexico
- Practice focuses on state and local taxation controversies and advice, government affairs, and federal Indian law
- Represents taxpayers in complex sales and use tax, corporate income tax cases involving constitutional limits on state taxation
- Through most of his career, he has represented taxpayers; however, upon gubernatorial appointment, also served as New Mexico’s Tax Policy Director from 2015 through 2017
- J.D. degree, Order of the Coif and an Associate Editor of the Law Review, University of Colorado, Boulder; B.A. degree, Duke University
- Can be contacted at 505-989-7348 or [email protected]
Pat Derdenger
Lewis Roca Rothgerber Christie LLP
- Partner in the Phoenix office of Lewis Roca Rothgerber Christie LLP
- Emphasizes his practice on federal, state, and local taxation law and is certified as a tax law specialist by the Arizona State Bar
- On June 15, 2017, he received the State Bar of Arizona’s Top Tax Attorney award
- Has been listed in The Best Lawyers in America since 1995 and has been listed in Southwest Super Lawyers for state, local, and federal taxation since 2007
- In his extensive state and local tax practice, he advises and represents his business clients on corporate and individual income, sales, use, and property tax matters, including litigation of those matters at all levels audits and appeals through various administrative stages, the tax court, court of appeals and Supreme Court
- Represents clients in tax litigation as well as counsels them on the state and local tax implications of their business transactions
- Frequent lecturer on state and local tax subjects to a wide variety of professional audiences
- J.D. degree, University of Southern California Law School; LL.M. degree in taxation, George Washington University School of Law; M.B.A. degree, University of Southern California Marshall School of Business; B.A. degree, Loyola University of Los Angeles
Benjamin F. Gardner
Lewis Roca Rothgerber Christie LLP
- Attorney in the Phoenix office of Steptoe & Johnson LLP
- Practice focuses on state and local taxation
- Experience in advising clients in all areas of state and local taxation, and assisted in representing clients in both administrative and judicial tax appeals
- Frequent writer and lecturer
- Member of the State Bar of Arizona
- J.D. degree, UCLA School of Law: B.A. degree, magna cum laude, Brigham Young University
- Can be contacted at 602-257-5291 or [email protected]
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