This is not tax or accounting advice and is meant for informational purposes only.
On the 13th December 2017, the Republican-controlled House gave its final approval to the biggest overhaul of the U.S. tax code in 30 years, sending a sweeping $1.5 trillion tax bill to President Donald Trump for his signature.
Below we outline the key changes that are most relevant to PE funds. Unlike the reduction in the corporate rate, some of the changes have not been made permanent and will expire if not extended at a later date.
* a pass-through is a business that does not pay corporate income tax and includes entities like sole proprietorships, partnerships, and S-corporations. The majority of businesses in the U.S. are categorized as a pass-through.
For greater detail on the information contained in this report, please visit the bill directly: https://www.congress.gov/bill/115th-congress/house-bill/1/text
Sam Grice contributed to this report.