IRS Addresses Whether Publisher Is “Producer” Under §199 | McDermott Will & Emery - JDSupra: "The IRS National Office concluded that the taxpayer’s activities produce only electronic, intangible copies of the books, and therefore the taxpayer does not qualify under §199 because §199 applies, with exceptions not relevant, only to taxpayers that produce tangible property. Under §199, however, taxpayers and the IRS are required to determine whether the taxpayer produces the property that the taxpayer regularly sells. Treas. Reg. §1.199-3(d)(1)(i). The taxpayer at issue in the CCA does not sell electronic copies of its books; it sells tangible copies of its books, which it contends it produces in significant part, even if it doesn’t apply ink to paper."
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