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Expert Analysis

The New Limited Interest Deduction: Good For Business?

By Jennifer Tolsky (January 31, 2018, 6:07 PM EST) -- Along with the new year came sweeping changes to the Internal Revenue Code, in the form of the Tax Cuts and Jobs Act, P.L.115-97. Among other things, the new law purports to lower taxes and simplify the IRC. Lowering the corporate tax rate to 21 percent and allowing a 20 percent deduction for qualified business income to pass-through entities such as partnerships certainly seem like good ways to meet these objectives. The new limitation on the deductibility of business interest, however, seems contrary to this objective and, as we discuss below, isn't so simple at all....

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