Gunster attorney Alan Lederman provided his insight in a recent Bloomberg Tax article. He noted that the U.S.’s expanded application of tariffs, and the BEAT rules, both require U.S. importers of goods from related foreign sellers to take into account Section 1059A, which can limit the deduction of inventory costs charged by those foreign suppliers.
Lederman concentrates his practice in tax law where he has considerable experience in most aspects of income tax planning and income tax controversies, including those related to international transactions. His clients range from major multinational corporations to local businesses. Lederman is a nationally known author and speaker.
Read the full article: New U.S. tariffs and BEAT stir interest in tax code limitation on related party costs