US Export Incentives

Additional Permanent Tax Savings Still Possible from Repealed Provisions

WTP can help businesses take advantage of repealed provisions, such as the Extraterritorial Income (“ETI”) exclusion, which was designed to provide exclusions for a portion of income related to the export sale or lease of qualified foreign trade property to a person outside the U.S. and any related services performed outside the U.S.

Although the ETI exclusion generally was repealed for transactions after December 31, 2004, transition rules allowed taxpayers to claim limited ETI benefits for transactions in 2005 and 2006. In situations in which taxpayers have multi-year contracts, benefits could still be claimed, depending on the circumstances.

WTP professionals can perform an in-depth review of multi-year contracts that could fall under the transition rules to understand whether the potential exists for claiming additional ETI benefits.

Our Export Incentives services include the following steps:

WTP helps taxpayers determine whether they have multi-year contracts that potentially could allow them to claim ETI benefits beyond when the contract was signed.
WTP performs a detailed review of contracts that were put in place after September 2000 and before taxable years ending after the TIPRA repeal date of May 17, 2006.
WTP’s calculation software – the best in its class – is used to optimize your ETI exclusion.

US Export Incentives

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