Serving Midsized Manufacturers
We at HLB Parissi are knowledgeable about your business and methods of operation. We have skilled professionals who, not only thoroughly understand the manufacturing/wholesale distribution industry, but also the attractive benefits for local and foreign enterprises looking forward to establish business within the island under the new Economic Incentives Tax Law. Some of the most rewarding provisions include a fixed 4% income tax rate, up to $5,000 per created job credits, qualified R&D and industrial energy consumption credits, incentives for investments in structure, machinery and equipment and others.
We understand several of the most significant aspects affecting the environment such as increased competition, economic uncertainty and changing trends, among others. In this volatile industry, success is dependent upon swift management decisions, accurate prediction of future trends and the guidance of a sound business advisor. For many businesses, HLB Parissi, P.S.C. is this advisor.
When it comes to industry accounting issues, HLB Parissi professionals can help manufacturing companies navigate through:
Sales and use taxes – Property taxes – Asset impairments – State and local income taxes – Unclaimed property and ESCHEAT laws Discontinued operations – Realization of deferred tax – Landlord allowances – Vendor allowances Charitable contributions – Construction period interest – Markdowns – Segment reporting – Goodwill impairment.