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OR

Another Major Victory: Tax Reform

Apr 6, 2018, 11:42 AM by Government Relations

ISRI worked hard to secure provisions in the comprehensive tax reform package that was passed in late 2017. Benefits for the recycling industry include: 

  • Offering a 100 percent expensing provision for businesses to immediately write off the full cost of new equipment;
  • Lowering the corporate tax rate to 21 percent beginning on January 1, 2018;
  • Providing a 20 percent tax deduction that applies to the first $315,000 of joint income earned by all business organizations as S corporations, partnerships, LLCs, and sole proprietorships;
  • Preserving the research & development tax credit;
  • Eliminating the corporate alternative minimum tax; and
  • Modernizing the international tax system enabling global companies to repatriate their profits back to the U.S.
More on Tax Reform