This week, the Senate’s top tax writer, Finance Committee Chairman Ron Wyden (D-OR), introduced the Small Business Tax Fairness Act, which would significantly limit the existing 20% deduction for manufacturers organized as “pass-through” entities. The background: The 2017 tax reform law created a 20% deduction for business income earned through pass-through entities such as S-corporations or…
Original source: https://www.nam.org/new-tax-bill-poses-threat-to-manufacturers-14660/