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While you might view the examples that were provided as immaterial, industries that commonly use LIFO – including pharmaceutical distributors, specialty retailers, industrial equipment, farm equipment, furniture businesses, and the automotive industry – are seeing significant increases in their tax bills. Contact Us.
The taxpayer in PLR 202221006 (March 3, 2022) is a pharmaceutical distributor that engages in the retail sale of a limited number of drugs. Recall that if a trade or business is not within an exclusion, then it is a QTB and thus eligible for an exclusion if the other QSBS requirements are met. BusinessTaxServices.
No matter what field of practice, the need for research is clear and is highlighted in some of the biggest industries in the United States, including health and medicine, public education, the automotive industry, and pharmaceuticals. Let’s Chat The post Will Congress Say Bah Humbug To Small Businesses?
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