NATSO, Others Urge Congress to Eliminate Income Threshold for Tax Deductions for Pass-Through Entities
Added on: October 14, 2021
NATSO joined with more than thirty trade associations representing businesses across the country in urging Congress to eliminate the income threshold for tax deductions for pass-through entities currently being considered in the budget reconciliation package. Specifically, the associations urged lawmakers to eliminate any income threshold amount which cuts off the 199A deduction and add a provision to make the 199A deduction permanent. The 199A tax deduction was created in the Tax Reform and Jobs Act of 2017 to provide some parity between the tax rates for C corporations and the tax rates for pass-through entities.