The GOP Tax bill, formerly known by the short title Tax Cuts and Jobs Act (“TCJA”), the most significant tax legislation since the Tax Reform Act of 1986, has passed both houses of Congress and awaits the President’s signature. The TCJA makes major changes to the taxation of individuals, modifying individual tax brackets and marginal tax rate, while limiting (eliminating) deductions and exemptions. However, the most significant changes are on the business side, where it fundamentally changes the taxation of corporations, pass-thru entities and multinational groups.

We have prepared a series of memos analyzing the legislation, which you can find here.