Tagcorporate tax

WH: Trump Pushing for 15% Corporate Tax Rate and Repeal 3.8% NIIT

Magnifying Glass and Tax

By:  Amanda Wilson

The White House announced today that reducing the corporate income tax rate to 15% and repealing the 3.8 % net investment income tax are top priorities for tax reform.  The 3.8% NIIT was implemented as part of ACA/Obamacare and apply to passive income (e.g., interest, dividends, capital gains) received by high net worth individuals.

It is unclear whether President Trump will be more successful in tackling tax reform than he was in repealing ACA/Obamacare.  Stay tuned!

House Expected to Tie Infrastructure and Tax Reform Together

Tax Help concept with hand pressing social icons on blue world map background.

By:  Amanda Wilson

In a July 2nd statement, the House Ways and Means Committee indicated that they intend to tie much needed highway funding to their goal of tax reform.  Particularly, corporate tax reform.  It is unclear whether the Republicans will be able to (or in the end, will want to) unite with President Obama to get this through Congress in the same way they did last month with the trade bill.  Stay tuned!


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