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Wrapping Your Head Around Tax Reform

Posted By MNLA eNews, Tuesday, March 27, 2018

Thanks to the just passed Tax Cuts and Jobs Act (TCJA), the tax rate for incorporated greenhouse businesses will be reduced from its current 35% to 21% for the 2018 tax year and thereafter. And, although the business tax cuts are permanent, the tax cuts for individuals are temporary, expiring in 2026.

Unfortunately, while regular ā€œCā€ corporations will be taxed at a flat 21% tax rate, the majority of small businesses and professional practices doing business as pass-through businesses will face new personal tax rates higher than the corporate tax rate.

FOR FULL ARTICLE, CLICK HERE.

Tags:  business management  commercial flower growers  Grower Talks  nursery grower  tax law 

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