Colorado business leaders detail benefits of federal tax reform
DENVER BUSINESS JOURNAL - Colorado business leaders said they have more to like about the final version of the federal Tax Cuts and Jobs Act that the U.S. House of Representatives passed Wednesday than the original version of the bill introduced last month.
Most notably, “pass-through” businesses such as S Corps and LLCs will get a 20 percent tax deduction on their first $315,000 on joint income, a level lower than the 25 percent rate that was first proposed.
In addition, local companies will be able to deduct interest on their loans and continue with popular tax credits such as the research and development tax break. And the state’s breweries will pay less excise tax on the beer they make.
Colorado Democrats continued to pillory the bill that very likely will be signed by President Donald Trump as a giveaway to the rich and to corporations on the backs of lower- and middle-class Americans.
Read more about what local business leaders think at the Denver Business Journal.
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http://www.9news.com/money/business/colorado-business-leaders-detail-benefits-of-federal-tax-reform/501169931
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