Export Finance and Controls
The Export-Import Bank Of The United States (Ex-Im Bank)
The Export-Import Bank of the United States (Ex-Im Bank) is the principal government agency responsible for aiding the export of U.S. goods and services through a variety of loan, guarantee, and insurance programs. Services include export financing, short-term and medium-term export credit insurance programs and special incentives for small business exporters and exporters of environmental products and technologies.
Contact:
William Laraque, Business Development Officer
Northeast and Mid-Atlantic Regional Office
33 Whitehall St., 22nd Floor, Suite B
New York, NY 10004
Phone: 212-809-2651
Cell: 845-548-0608
BIS Office of Exporter Services
An agency within the Department of Commerce, the Bureau of Industry and Security (BIS), formerly the Bureau of Export Administration (BXA) assists businesses in determining their licensing requirements. BIS provides high-level direction for national export control policy and administration, strong enforcement of export laws, and improved service to business. BIS also offers various export licensing education seminars and expert detailed guidance on preparing license documents. The Exporter Counseling Division is responsible for responding to inquiries from the exporting community and participating in seminars and other outreach efforts to help exporters understand and comply with the Export Administration Regulations (EAR).
Contact:
Export Counselors
Exporter Counseling Division, Room 2705
14th Street and Pennsylvania Avenue, NW
U.S. Department of Commerce
Washington, DC 20230
Phone: (202) 482-4811
Additional BIS Resources:
http://www.bis.doc.gov/licensing/exporterfaq.html
http://w3.access.gpo.gov/bis/ear/ear_data.html
Tax Projects Group, LLP
Tax Projects Group is a national professional services firm teaming with CPAs and companies across the country to perform a number of specialized tax services. Forming valuable relationships with business advisors allows our team of skilled professionals to maximize and sustain significant past, present and future tax savings for clients.
Our Professionals are former “Big-4” accounting firm partners, CPAs, attorneys, engineers and former IRS technicians, whose experience stems from national tax practices serving Fortune 500 companies. We have built our approach to provide the best in class processes and methodologies in performing our tax projects.
The Opportunity: Interest Charge – Domestic International Sales Corporations (IC-DISCs) The IC-DISC provides U.S. exporting companies or their shareholders permanent tax savings (20% of future net export income). The basic operation of an IC-DISC can be demonstrated as follows:
- A US exporter (or shareholder(s)) forms an IC-DISC corporation
- The US exporter pays a deductible commission (at say an est. regular tax rate of 35%)
- The IC-DISC pays no U.S. income tax on the commission income
- The commission income is accumulated and untaxed in the IC-DISC
- The commission income is taxed when the IC-DISC decides to pay a dividend to its shareholder(s) (at the preferred qualified dividend tax rate of 15%)
- The tax benefit is a 20% tax savings (35% regular tax rate less 15% dividends tax rate)
Contact:
Dennis Grogan, Director
8 Faneuil Hall Marketplace, 3rd Floor
Boston, MA 02109
Phone: 617.830.2519 x6892 Cell: 216.905.5968
Maureen Mezei