2019

C-CORPORATION TAX RATE
21% Flat Tax Rate
CORPORATE ALTERNATIVE MINIMUM TAX
Repealed, beginning in 2018
QUALIFIED BUSINESS INCOME 20% DEDUCTION FOR PASS-THROUGH ENTITIES
Qualified income will be taxable at 80% of the normal tax bracket rate on other business income
Applies to the lesser of 20% of business income or 50% of total wages paid by the business
Specifically excludes certain types of professional service and investment income

2018

C-CORPORATION TAX RATE
21% Flat Tax Rate
CORPORATE ALTERNATIVE MINIMUM TAX
Repealed, beginning in 2018
QUALIFIED BUSINESS INCOME 20% DEDUCTION FOR PASS-THROUGH ENTITIES
Qualified income will be taxable at 80% of the normal tax bracket rate on other business income
Applies to the lesser of 20% of business income or 50% of total wages paid by the business
Specifically excludes certain types of professional service and investment income

 

The information presented here is not intended to be a comprehensive analysis. Chernoff Diamond is a benefits advisory firm and does not provide tax or legal advice. Individuals or Employers should consult with qualified legal and/or tax counsel for guidance in respect of matters of law, tax and related regulation.