Tax Cuts – Job Acts
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Much has been said and written about the Tax Cuts and Jobs Act signed into law on December 22, 2017. Though the law is still so new that no regulations have been issued or judicial interpretations made, the individual provisions of the law present U.S. taxpayers with interesting issues and opportunities. One provision of particular interest to UBS clients is Internal Revenue Code Section
199A, which deals with the income tax treatment of the income and losses of “pass -through companies,” or PTCs. The vast majority of businesses in the U.S. are PTCs.
In 2015 the Brookings Institute reported that U. S. Treasury figures suggest that about 95% of all U.S. companies were structured as PTCs.