Ukrainian Law Blog
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Wednesday, December 13, 2017
Seventeen Provisions to Watch in the Senate Tax Reform Bill
On December 2, 2017, the Senate passed a tax reform bill
1
that differs in some key aspects from the tax reform bill the House approved on November 16, 2017. A House and Senate conference committee will begin work to resolve the differences between the House and Senate bills. Once the conference committee has reached an agreement, both the House and Senate must vote to pass a final bill in identical form before President Trump can sign the tax reform bill into law. Key provisions of the Senate bill are summarized below. We will update you as significant developments unfold.
1. Corporate Tax Rate
Reduces the maximum corporate tax rate to 20% from 35% effective 2019, but retains the corporate alternative minimum tax.
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