Tax Reform has been in effect for a little over one month now and industry leaders are still trying to get a tight grip on the details of what the new laws will mean for their specific industries. For manufacturing, there are quite a few changes coming but multiple positives with the new legislation.
Below are only a few of the impact areas:
- Corporate Tax Rate reduced from 35% - 21%
- Increase in the Research Tax Credit's net value by 22%
- Pass-through deduction increased to 20%
While it may not seem like drastic changes, these above mentioned areas should bring net positives to the manufacturing and distribution industry.
You may download the full list of changes by clicking the button below.