• Potential Tax Break on Qualified Business Income of Non-Corporate Taxpayers
  • November 29, 2018 | Author: Nayoung (Naya) Kim Pearlman
  • Law Firm: Norris McLaughlin, P.A. - Bridgewater Office
  • Beginning in 2018, the new section 199A of the Internal Revenue Code (IRC), created by the Tax Cuts and Jobs Act, provides for a potential tax break on qualified business income of non-corporate taxpayers. This new section requires that the qualified business be effectively connected with the conduct of a trade or business within the United States.