WASHINGTON, DC–As businesses across the country evaluate the impact of federal tax reform on their operations, state legislators are making similar evaluations. States have made a habit in the past of decoupling from aggressive deductions allowed for federal income tax purposes, and while federal tax reform has been viewed as a positive for businesses, it largely remains to be seen the full impact from a state perspective.
The Tax Cuts and Jobs Act (“TCJA”) is major tax legislation for businesses that included accelerated expensing (100%) for tangible property, repeal of corporate alternative minimum tax, potential limitation on business interest deductions, and limitation on net operating losses, just to name a few of the changes.
Probably the most advantageous change for businesses was the lowering of corporate tax rates and the effective lowering of tax rates on pass through income.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more information visit Asset & Logo Licensing.
