USA tax reform: Overview of main tax provisions and specific aspects

last updated on February 8, 2018

2017 Tax Cuts and Jobs Act is final!

On December 22, 2017, President Trump signed into law the 2017 Tax Cuts and Jobs Act. This is the most consequential tax change in over 30 years. Below please find a very general overview of the main tax provisions of the law. We have divided the chart into business, international, and individual tax provisions. The wide range of changes are in many cases effective immediately and will require taxpayers to act quickly and to evaluate many aspects of their business and structure going forward.

Rödl & Partner is continually analyzing the full impact of these provisions.

• Key Business Tax Provisions
• Key International Tax Provisions
• Key Individual Tax Provisions

• Compensation and Benefits Changes
• Capital Expense and Depreciation Changes
• New Interest Deduction Limitation Rules
• Deduction for Qualified Business Income For Non-Corporate Taxpayers
• Elimination of Corporate AMT and New NOL Limitations
• Repatriation “Toll Tax”
• Base Erosion and Anti-Abuse Tax (“BEAT”)
• Tax Accounting Considerations under Tax Reform
• Changes to Pass-Through Entities
• Property Contributions Made by Governments are Taxable
• New Income Inclusion for Global Intangible Low-Taxed Income ("GILTI")
• 37.5% Deduction for "Foreign-Derived Intangible Income" of Domestic Corporations
• Limits on Deductions for Interest or Royalties Paid to Hybrids

Web series: overview of the impact of the 2017 Tax Cuts and Jobs Act

On December 22, 2017, the U.S. passed the Tax Cuts and Jobs Act which is the most significant tax legislation to be passed in over 30 years. Over the course of the 11 part web series, we will discuss the various aspects of tax reform and its impact on the German Mittelstand. View all videos »