Such incentives may result in significant benefits to qualifying companies
The Inflation Reduction Act (IRA), CHIPS Act, and the U.S. Foreign-Trade Zones (FTZ) Program created tax incentives, credits, and customs duty management programs that may be leveraged to help companies compete more effectively in their U.S. manufacturing and distribution operations. Because these opportunities are not mutually exclusive, it may be valuable to evaluate the applicability and opportunity under each incentive program for current and future U.S. operations.
Read a September 2024 report* prepared by KPMG tax professionals: Tax Incentives Help Firms Harness Cost Reduction Opportunities
* Reproduced with permission from Tax Management International Journal, 9/30/2024. Copyright @ 2024 by Bloomberg Industry Group, Inc. (800-372-1033) http://www.bloombergindustry.com