Select Page

Some items to note that were not included in the legislative framework:

  • A Billionaire tax, affecting a small, but wealthy segment of taxpayers
  • Lowering estate tax exemption
  • Changes to capital gains rates 
  • Changes to “Carried Interest”
  • Changes to IRA accounts
  • Changes to the SALT cap of $10,000
  • Changes to grantor trusts

Some items to note that were included in the legislative framework:

  • Surtax on individual taxpayers with income over $10 million with a second tier over $25 million, with similar provisions to trusts
  • Surtax on public companies buying back their shares
  • Minimum tax on corporations with over $1 billion in profits
  • Expansion of the 3.8% net investment income tax to cover more businesses (S-corp) and trusts
  • Reduction in the benefits of qualified small business stock sales
  • Changes to business loss carryovers for non-corporate taxpayers

Don’t be fooled…

Hat tip Friedman & Huey Assoc. LLP