![]() |
![]() |
American Jobs Creation Act of 2004 | ||
|
For best viewing of this .pdf file, we recommend that you
download the latest version of Adobe Acrobat Reader The President signed the American Jobs Creation Act into law on Oct. 22, 2004, the fourth major tax act in as many years. Originally intended to repeal the extraterritorial income (ETI) exclusion, which had triggered tariffs by the European Union, the AJCA expanded to cover a wide range of business tax issues. The Act establishes a phased repeal of the ETI, a new incentive tax deduction for domestic production activities and significantly revises the taxation of U.S. companies doing business abroad. In addition, the Act fundamentally changes the rules applicable to deferred compensation, addresses tax shelter and penalty issues, and modifies a variety of other business and individual tax rules. To receive an electronic copy of Grant Thornton’s analysis of the 2004 Act, please provide the following information. * Indicates required field. |