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Closely Held Businesses

Potential Tax Impact of the Trump Tax Plan on Closely Held Business:

By December 19, 2016No Comments
  • The top tax rate for C Corporations will go from 35% to 15%
  • Will eliminate the corporate alternative minimum tax
  • Eliminate most corporate tax credits except the Research Tax Credit
  • Firms engaged in manufacturing in the US may elect to expense capital investment and lose the        deductibility of corporate interest expense
  • Impose up to a 10% deemed repatriation tax on the accumulated profits of foreign subsidiaries          of US companies payable over 10 years
  • Tax profits of foreign subsidiaries of US companies
  • Tax carried interest in partnerships as ordinary income
  • For more details on the potential Trump Tax Plan please visit

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