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Nixing Pass-Through Rate For Service Cos. Can’t Stop Abuse

Law360, New York (September 12, 2017, 10:21 PM EDT) -- Treasury Secretary Steven Mnuchin’s proposed solution of excluding service companies from qualifying for a lower tax rate for so-called pass-through businesses may not be enough to eliminate the potential for abuse that accompanies the Trump administration’s corporate tax plan.

Speaking at the Delivering Alpha conference for investors and asset managers in New York, Mnuchin acknowledged concerns, which have been repeatedly raised by tax policy experts, that a proposal to slash rates for so-called pass-through entities could create tax-avoidance incentives for the relatively wealthy to reclassify their...
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