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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.