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Discusses the factors involved in choosing a form of business entity after the Tax Cuts and Jobs Act. Basically the choice is either a C Corporation where the entity is responsible for paying the taxes or a Pass-Through Entity (S Corporation or Partnership) where the individual owner of the entity is responsible for paying the tax. Factors to be considered in making this choice include, among others, the number and types of owners, the jurisdictions in which the business operates, the type of business and industry and the desired tax treatment. Many businesses may feel that the tax treatment of a pass-through entity is more favorable because they are not subject to a double tax and are able to utilize the capital gain tax rate on the eventual sale of the assets of the business. However, the changes made to the corporate tax law by the TCJA, such as the reduced tax rate of 21% may make the C Corporation entity more attractive.
Publisher: CCH - Wolters Kluwer
Publication Date: 2018
Size: 6" x 9"
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