2 of 12
For businesses
The main change is bringing the corporate tax rate down to 20 percent from 35 percent, though it would also impose a tax of up to 12 percent on multinational companies’ accumulated offshore earnings. The act also aims to set a maximum pass-through tax rate on business income at no more than 25 percent, which congressional Republicans claim would be the lowest rate on small-business income since WWII. (It would not automatically apply to professional services like accounting, however.)
next