Potential Tax Impact of the Trump Tax Plan on Closely Held Business:

The top tax rate for C Corporations will go from 35% to 15%
Will eliminate the corporate alternative minimum tax
Eliminate most corporate tax credits except the Research Tax Credit
Firms engaged in manufacturing in the US may elect to expense capital investment and lose the deductibility of corporate interest expense
Impose up to a 10% deemed repatriation tax on the accumulated profits of foreign subsidiaries of US companies payable over 10 years
Tax profits of foreign subsidiaries of US companies
Tax carried interest in partnerships as ordinary income
For more details on the potential Trump Tax Plan please visit https://www.donaldjtrump.com/policies/tax-plan

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