The new Section 199 tax break for domestic producers in the American Jobs Creation Act of 2004 has been estimated to be worth $76 billion over the next 10 years. If your business client or employer qualifies as a domestic producer, it will be eligible for a phased-in deduction of 3% in 2005 and 2006, 6% from 2007 through 2009, and 9% thereafter. This course will focus on the Treasury’s detailed final regulations as well as new proposed and temporary regulations released in May 2006.