New IRS regulations issued Monday make it easier for companies to claim a tax break for exporting their made-in-America goods and services.
The release of the regulations gives corporations a first look at what they need to do to claim a new deduction in the 2017 tax overhaul, which could lower their export income tax to about 13 percent from 21 percent.
From airlines to defense companies, the Internal Revenue Service clarified that certain industries can claim a sizable deduction for the income they earn from selling goods and services made in the United States overseas.
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