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The New Limited Interest Deduction: Good For Business?

Law360, New York (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...
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