Manufacturing Industry
CEOs expect bigger bite as two big tax breaks end.(Taxation)
Manufacturing Business Technology, January, 2005
Nearly half of 392 CEOs of enterprises identified as "fast-growing" anticipate corporate taxes will rise an average of 18 percent, with 46 percent of the total fearing the jump will be as high as 40 percent, according to results of a September 2004 survey issued by PricewaterhouseCoopers. Trendsetter Barometer, a survey of companies ranging from $5 million to $150 million in revenues, also found that more than half were unaware that the IRS expects to increase audits of midsize companies.
"Some may see business taxes increasing because two significant tax breaks are about to end," says Marty Janowiecki, tax partner in PricewaterhouseCoopers' Private Company Services practice. "Foreign Sales Corporation status, a beneficial provision, has been judged...
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