After an exiting -for a few- and shameful –for many others- legislative process, last December 22th president Donald Trump signed into Law the highly expected US tax reform that includes the more in-depth changes and overhaul of the Tax Code in more than 30 years.
From the original Blueprint, to the final version that, finally, has been enacted, many changes were made after economic impact was assessed. On this document, we are pointing out those changes that affect only Corporations.
First, we need to remember that the tax reform is temporary because it passed through the “Reconciliation Process”, so, it expires after 2025.
With this in mind, now we move on reviewing the main changes:
International and Local impact must be analyzed very carefully according with specific regulation available for each topic.
There are many other changes in the Tax Bill that may affect doing business in the USA, so we invite you to review them with a tax advisor.
Miguel Rodriguez, Auren Mexico