OrbitaxOrbitax

U.S. Bill to Extend Puerto Rico Domestic Production Activities Deduction Permanently

|Proposed Changes|United States-Puerto Rico
United States-Puerto Rico

Puerto Rico's Resident Commissioner Jenniffer Gonzalez-Colon has submitted Bill H.R.1403 in the U.S. House of Representatives that would make permanent the 9% deduction for domestic production activities in Puerto Rico (Section 199 deduction). The bill would strike subparagraph (C) of Section 199(d)(8) of the Internal Revenue Code, which currently provides that with respect to Puerto Rico acti…

Continue Reading