Tax Cuts and Jobs Act As Enacted: Effect on Businesses and Business Owners

The ultimately unnamed tax bill (the “Act”) was signed into law on December 22, 2017. While several of the more onerous provisions included in the original House Bill (including significant changes to the taxation of nonqualified deferred compensation and a poorly worded provision with respect to taxation of capital contributions to corporations) were eliminated in the Act, there remain a number of provisions that significantly impact the taxation of businesses and their owners.

Click here for a brief highlight of the provisions of the Act most directly affecting domestic businesses and their owners.