This program is designed to enable FOX members to better understand if the businesses they work with should consider converting to or electing C corporation status in light of the Tax Cuts and Jobs Act, lowering the federal corporate tax rate to 21%.  

In this session, we explored:

• A Review of historic tax and nontax considerations related to whether an entity should be structured as a pass-through entity or C corporation
• A Discussion of the Tax Cuts and Jobs Act’s impact on the choice of entity decision, including:
  • New 21% federal corporate tax rate
  • New up to 20% of pass-through income federal income tax deduction for qualified business income
  • 100% expensing of certain qualified property
• Common scenarios
• The Process of analyzing if a business should convert to a C corporation structure
• Procedural requirements and timing to convert to a C corporation structure