"Since passage of the 'American Jobs Creation Act
of 2004,' government policy has increasingly driven and subsidized the diversion of animal fats to biofuel production via tax credit supports," said Troutman.
Congress enacted the American Jobs Creation Act
The last time Congress gave companies an opportunity to repatriate profits at a lower tax rate, in 2004's American Jobs Creation Act
, critics charged that the tax break led to relatively few new jobs.
The American Jobs Creation Act
of 2004 contained two new prohibitions relative to the funding of deferred compensation plans.
In 2004, Congress passed legislation to establish a biodiesel tax credit as part of the American Jobs Creation Act
. The tax credit provides biodiesel producers and blenders a $1 per gallon tax credit for "agri-biodiesel" produced from agricultural products, such as soybeans, and a 50-cent per gallon tax credit for biodiesel produced from recycled products, such as fryer grease.
Four years after the American Jobs Creation Act
was signed into law by President George W.
The 230-page supplement covers: new tax incentives and planning opportunities for IP development, acquisitions and assignments, including favorable rules for musical copyrights, and extended tax breaks for computer software; recent state legislation, court decisions, and administrative rulings; new material on IP litigation; and, major changes in IP tax laws enacted by the American Jobs Creation Act
of 2004, the Tax Increase Prevention and Reconciliation Act of 2005 and the Tax Relief and Health Care Act of 2006.
* Additional guidance implementing various provisions of the American Jobs Creation Act
of 2004 and the Tax Increase Prevention and Reconciliation Act of 2005.
For example, the American Jobs Creation Act
of 2004, which reduced repatriation taxes from 35% to 5.3% for one year, caused U.S.
Contractors should take advantage of all that the government offers, including the Manufacturing Deduction (Section 199 of the American Jobs Creation Act
of 2004) which can result in the reduction of income reported to the government.
In October 2004 Congress enacted the American Jobs Creation Act
. Included in it was new IRC section 62(a)(20) which provides an above-the-line deduction for legal fees and court costs incurred in connection with discrimination awards.
tax expense attributable to the American Jobs Creation Act