Multinational companies and those considering expansion overseas face a growing number of international tax planning and compliance challenges. It can be nearly impossible to keep up with all the changing regulatory, legislative and tax requirements.
LBMC can help your company reduce your international tax burdens and fulfill financial reporting requirements. Our team of international tax experts tracks all the latest developments in the global marketplace so that we can keep you in compliance and plan strategically. Multinational businesses in real estate investment, distribution and manufacturing, technology and many other sectors can turn to our experienced team.
Supporting International Expansion
Whether you are an international company looking to establish or expand operations in the United States, or you are a domestic company opening an overseas subsidiary, our international accounting and tax professionals can manage all federal, state and local level issues, including:
- Financial Statement Audits and Reporting Compliance
- Transfer pricing planning and risk assessment
- Tax controversy services
- Risk assessment and/or FIN 48 tax provision reviews
- Japanese business services
- International Tax Planning – minimize your worldwide tax burden through tax-efficient structuring of corporations, subsidiaries, and real estate investment partnerships
- Foreign tax credits and Incentives
- State and local taxes (SALT) – comply with tax requirements in each US state as well as foreign tax jurisdictions
- IC-DISC tax planning and structuring
- International mergers and acquisitions
Interest Charge Domestic International Sales Corporation (IC-DISC)
An Interest Charge Domestic International Sales Corporation, or IC-DISC, provides a permanent tax savings opportunity for qualifying U.S. exporters. An IC-DISC is not a tax shelter. It’s an incentive specifically provided by the tax code that allows U.S. exporters to increase their ability to compete globally by reducing U.S. tax liabilities. It is a paper entity designed solely for the purpose of realizing export tax savings.
Benefits of an IC-DISC
- Creates permanent tax savings on the export sales commission
- Increases liquidity for shareholders or businesses
- Supplies ongoing financing to reduce cost of capital
- Creates a tax-advantaged vehicle for succession or estate planning
- Eliminates double taxation for C-Corporations and defers taxes
LBMC’s approach is designed to minimize the filing and maintenance burdens for our clients while maximizing commissions and tax savings. Our IC-DISC team evaluates all commission alternatives on an annual basis, including performing a detailed transaction-by-transaction analysis. Choosing the optimal methodology and performing a detailed annual analysis will ensure maximum savings.
We Speak Your Language
For foreign-based businesses, we know how frustrating and inefficient it can be when your local business advisors don’t speak your language or understand your culture. Interacting with foreign parent companies and their external auditors requires extensive knowledge of international accounting and auditing standards, as well as cultural sensitivity.
LBMC’s resources offer international accounting experience and with backgrounds in Big Four accounting firms and multinational corporations. For US-based companies expanding into overseas markets, this experience means that we can help you navigate complex regulatory requirements and subtle cultural norms with finesse.
LBMC leverages our expertise through collaboration with members of LEA Global, a worldwide association of independent accounting firms that are in more than 100 countries across the globe. LEA Global provides you with the extra edge you need to compete successfully in a dynamic international arena.