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President Trump Signs Tax Reform Bill
Updated Dec. 22, 2017
By Mark Riso, Vice President of Legislative Affairs
President Trump signs long-awaited tax reform bill reflecting largest tax overhaul in 30 years.
PHCC had a number of issues in play:
- 7 Taxable Brackets
- Pass Through Tax – 20% of qualified business income deduction
- Corporate Tax Rate at 21%
- Estate/Death Tax – Doubles Threshold
- Permanent, full expensing of all business expenses (179D)
- Eliminates Individual Mandate for Affordable Care Act
- Eliminates Alternative Minimum Tax
For more information see the chart below.