Section 199A, SSTBs and Related Parties
Introduction. The Tax Cuts and Jobs Act of 2017 (the “Act”) added Section 199A to the Internal Revenue Code (the “Code”). Section 199A provides a deduction that reduces the effective tax rate on qualified business income (“QBI”) for owners of businesses taxed as sole proprietorships, partnerships, limited partnerships, limited liability companies, S corporations and similar pass-through entities (each hereinafter, a “pass-through Continue Reading …