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Valuation Implications of the Tax Cuts and Jobs Act of 2017
The Tax Cuts and Jobs Act of 2017 (TCJA) was signed into law by President Trump on Dec. 22, 2017. The President referred to the legislation as the biggest tax cut in American history, with substantial reductions in both corporate and personal income tax rates. Whether or not that holds true, it is by far the most significant income tax legislation since 1986, when the passive activity rules were first enacted.
The TCJA will have significant impact on the value of Subchapter C corporations, as well as pass-through entities and the owners thereof. This article focuses first and primarily on the impact of tax reform on C corporations. Second, it looks briefly at the significant and complex changes to pass through entities, which include Subchapter S corporations, limited liability corporations and partnerships and sole proprietorships. This latter pass-through taxation aspect will dramatically change the tax landscape for the owners of these pass-through entities as they assess the impact of the TCJA on their individual income tax obligations.
Corporate Taxes are Lowered
With the election of Donald Trump in late 2016, the public markets began to anticipate that he would follow through on one of his primary campaign promises to cut business taxes in order to make American corporations more competitive on the world stage.
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New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
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Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.