NRMCA Joins Business Groups Supporting 199A Small Business Deduction
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This week, NRMCA joined nearly 250 business groups in urging Congress to make the 20 percent deduction for pass-through entities permanent. A key part of the 2017 Tax Cut and Jobs Act, the 199A small business deduction is critical to maintain a level playing field for pass-through entities which do not benefit from the reduction in the corporate tax rate and are instead taxed at personal rates. Read the letter here.
The 199A small business deduction has been a key part of NRMCA’s tax advocacy and will continue to be a provision that NRMCA urges Congress to make permanent, along with preserving the higher thresholds for (or even eliminating) the estate tax; restoring the TCJA’s bonus depreciation schedule; and maintaining the research and development tax credit.
If you are interested in engaging or weighing in specifically on tax policy, please consider joining NRMCA’s Tax Policy Task Force. For more information, contact Andrew Tyrrell at atyrrell@nrmca.org.
