Tax legislation enacted in December 2017 introduced a new deduction (Section 199A) available to owners of businesses operated in “flow through” entities, which would include sole proprietorships, S corporations, partnerships, and other entities that are taxed as partnerships for federal income tax purposes, such as LLCs and LLPs. This whitepaper from Merrill Lynch Global Wealth & Investment Management Chief Investment Office summarizes the many definitions, exceptions and limitations under this new statute.
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This material does not take into account your particular investment objectives, financial situations, or needs and is not intended as a recommendation, offer, or solicitation for the purchase or sale of any security, financial instrument, or strategy. Before acting on any information in this material, you should consider whether it is suitable for your particular circumstances, and if necessary, seek professional advice. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of issue.
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