Pass-Through Entities

 

Tax reform legislation in the House and Senate would provide new tax benefits to certain businesses operated as sole proprietorships, partnerships, and S corporations. The House bill would create a maximum tax rate for the business income of qualifying pass-through entities, but the Senate bill would provide a benefit in the form of a deduction, rather than a special rate. Lawmakers will need to iron out these differences and agree on how to structure the “guardrails” that will prevent gaming of these rules.

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Laura Davison Updates Bloomberg Radio on Status of Tax Code Rewrite

Capitol Hill Tax Reporter Laura Davison speaks with Bloomberg Surveillance on the status of the carried interest tax break under the House Ways and Means Committee rewrite of the tax code.