Experienced Small Business Accountant - Under pre-Act law, corporations that receive
dividends from other corporations are entitled to a deduction for dividends
received. If the corporation owns at least 20% of the stock of another
corporation, an 80% dividends received deduction is allowed. Otherwise, a 70%
deduction is allowed.
New law. For
tax years beginning after Dec. 31, 2017, the 80% dividends received deduction
is reduced to 65%, and the 70% dividends received deduction is reduced to 50%.
(Code Sec. 243, as amended by Act Sec. 13002)
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Amare
Berhie, Senior Accountant
(651) 300-4777
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