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U.S. Legislation Introduced to Ensure that Corporate Tax Rate Cuts would Apply for Pass-through Entities

03 May 2016

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Proposed Changes

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United States

On 27 April 2016, U.S. Representative Vern Buchanan R-FL announced the introduction of the Main Street Fairness Act. The legislation is meant to ensure that any cuts in the corporate tax rate as part of business tax reform would also apply for income received through pass-through entities, such as partnerships and S corporations.