A much-anticipated tax code overhaul has been released by House Republicans, and it would cut the corporate tax rate from 35% to 20% as lawmakers promised in September.
The Tax Cuts and Jobs Act would make that 20% corporate tax rate permanent and instate it immediately upon the bill becoming law, as opposed to phasing it in over a period of years as was being discussed by lawmakers in recent weeks. The bill would also create a new global 10% tax on high-profit foreign subsidiaries of U.S.-based companies, to prevent those organizations from stowing profits away overseas.
The proposed tax bill would create a new 25% tax rate for pass-through businesses, as opposed to being taxed an individual rate as they are currently.
The draft includes a higher individual rate for the nation’s wealthiest taxpayers than was originally proposed in September, with a 39.6% rate to reportedly apply to married couples making over $1 million annually. Three new individual tax brackets are also included in the plan: A 12% rate on incomes up to $45,000 for an individual and $90,000 for a married couple, a 25% rate on incomes up to $200,000 for and individual and $260,000 for couples, and a 35% rate on incomes up to $500,000 for an individual and $1 million for couples.
Here’s a roundup of initial reactions to the plan released this morning:
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
