Industries

Helping clients meet their business challenges begins with an in-depth understanding of the industries in which they work. That’s why KPMG LLP established its industry-driven structure. In fact, KPMG LLP was the first of the Big Four firms to organize itself along the same industry lines as clients.

How We Work

We bring together passionate problem-solvers, innovative technologies, and full-service capabilities to create opportunity with every insight.

Learn more

Careers & Culture

What is culture? Culture is how we do things around here. It is the combination of a predominant mindset, actions (both big and small) that we all commit to every day, and the underlying processes, programs and systems supporting how work gets done.

Learn more

KPMG article: Possible comeback of section 199 domestic production activities deduction (DPAD)

Possibility that Congress revives the former section 199 deduction, or a variation of it

Download PDF
Share
February 3, 2025

During his campaign for reelection, President Trump promised a tax plan that would generally provide numerous tax cuts, including a reduction in the federal corporate tax rate from 21% to 15% but only for companies manufacturing their products in the United States. As president-elect, Trump continued to pledge to implement a tax rate reduction for U.S. manufacturers. For many taxpayers and tax practitioners, those soundbites leave them wondering whether that change would mean reinstating the former domestic production activities deduction (DPAD) under section 199 that was repealed in 2017 by Pub. L. No. 115-97 (commonly referred to as the “Tax Cuts and Jobs Act” (TCJA)).

Read a January 2025 article* that discusses the possibility that Congress revives the former section 199 deduction, or a variation of it, and why such a revival, unless specific changes are made, may not be celebrated by all domestic manufacturing companies.

* This article appears in Tax Notes Federal (January 20, 2025) and is provided with permission.

Thank you!

Thank you for contacting KPMG. We will respond to you as soon as possible.

Contact KPMG

Use this form to submit general inquiries to KPMG. We will respond to you as soon as possible.

By submitting, you agree that KPMG LLP may process any personal information you provide pursuant to KPMG LLP's Privacy Statement.

An error occurred. Please contact customer support.

Job seekers

Visit our careers section or search our jobs database.

Submit RFP

Use the RFP submission form to detail the services KPMG can help assist you with.

Office locations

International hotline

You can confidentially report concerns to the KPMG International hotline

Press contacts

Do you need to speak with our Press Office? Here's how to get in touch.

Headline