2018 will be a pivotal year for Main Street businesses and the trade groups that represent them. The 20-percent pass-through deduction is helpful to those businesses that qualify, but it’s availability is limited by income, industry, location, and other “guardrails” so complicated even tax experts are scratching their heads.
Meanwhile, the new federal law precludes most pass-through businesses from deducting their state and local income taxes. And finally, the 20-percent deduction is scheduled to sunset in a few years, threatening many pass-through businesses with a tax hike in future years.
To help provide policymakers with a better sense of how the Main Street business community is affected by the new law, we are asking you to fill out the short survey below. It will only take about 5 minutes and the information you provide will be invaluable to us in our advocacy efforts.
- Click here to begin survey.
Important Note: All responses to this survey are anonymous and will not be traced to any member or business. The goal of this survey is to develop a clear picture of Main Street’s response to the tax overhaul, not to gather information about specific companies.