Tax Treatment of S Corp Distributions: Income and Deduction Rules, Basis, Salary vs. Income, Tax Distributions

To reduce waste and encourage recycling, an increasing number of international, federal, and local jurisdictions are embracing extended producer responsibility (EPR) laws, which have wide-reaching compliance implications for product manufacturers, distributors, retailers, and other entities falling within the varying definitions of “producers.” EPR laws assign covered producers greater responsibility for the full lifecycle of their products and establish mandatory requirements for reporting, source reduction, and financial contributions to third-party entities, known as producer responsibility organizations. EPR requirements apply to a variety of consumer product categories, including batteries, electronics, mattresses, pharmaceuticals, textiles, and, most recently, packaging and paper products.