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Sirote Attorney Ronald Levitt to Speak at NYU’s Summer Institute in Taxation on July 26, 2018 on “Section 199A and its Application to S Corporations.”

July 24, 2018

Noted tax attorney and Sirote shareholder, Ronald Levitt, along with Stephen R. Looney with Dean Mead from Orlando, Florida, will speak on July 26, 2018, at the New York University (NYU) Summer Institute. Their topic is, “Section 199A and its Application to S Corporations.”    

The Tax Cuts and Jobs Act (“TCJA”) made significant changes to the Internal Revenue Code of 1986, as amended (“Code”). Two of the most significant changes made by the TCJA are the new deduction available to certain pass-through entities and sole proprietorships under Section 199A, as well as the reduction of the tax rate applicable to “C” corporations to a flat 21%.

Levitt and Looney will examine the new deduction available to pass-through entities and sole proprietorships, focusing on S corporations. Additionally, their talk will address new terms used in Section 199A, as well as the many unanswered questions and open issues under Section 199A, which are primarily attributable to the speed at which the TCJA was drafted and passed into law, leaving little, if any, legislative history available to interpret Section 199A. Lastly, the speakers will briefly discuss the effect Section 199A, and the reduction in the corporate tax rate to a flat 21%, could have on choice of entity decisions. 

For more details, please contact Sirote Attorney Ronald Levitt.

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