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Excise Tax

Tax Reform: What Does the Tax Cuts and Jobs Act Mean for the Healthcare Industry?

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more

Tax Bill Means Changes to Employee Benefits and Executive Compensation

On December 22, 2017, President Trump signed into law a tax bill reconciling both the House and Senate versions of the so-called Tax Cuts and Jobs Act. The Act’s major provisions are lowering the corporate tax rate to 21%...more

2017 Tax Reform and Its Effects on Healthcare

by Dickinson Wright on

Over the past decade, the Healthcare Industry has been accustom to being center stage in political debates, but while medical providers and facilities did not have a prominent role in the latest political drama, the far...more

Tax Reform Could Cost Tax Exempt Entities

by Poyner Spruill LLP on

Under the recently enacted tax reform act (Tax Cuts and Jobs Act), tax-exempt organizations may be required to pay a 21 percent excise tax on certain compensation and certain separation pay. The new excise tax applies...more

The Final Tax Cuts and Jobs Act’s Effects on Executive Compensation and Employee Benefit Practices

by Morrison & Foerster LLP on

On December 20, 2017, the Tax Cuts and Jobs Act (the “Act”) was approved by Congress, and it was signed into law by President Trump on December 22, 2017. The Act dramatically impacts certain aspects of executive compensation...more

Analysis of Key Provisions of the Tax Cuts and Jobs Act

by Ballard Spahr LLP on

As we are sure you know, H.R. 1, informally known as the Tax Cut and Jobs Act, became law on December 22, 2017. This new law will impact almost all taxpayers. Ballard Spahr's Tax Group has prepared a detailed summary of...more

2018 Tax Reform Series: New Excise Tax On “Excess” Executive Compensation Paid By Tax-Exempt Employers

by Jackson Lewis P.C. on

This is the fifth article in our series covering the various employee benefits-related changes contained in the Tax Cuts and Jobs Act signed by the President on December 22, 2017. Some of the most fundamental changes under...more

Toasting Tax Reform’s Impact on Brewers, Vintners, Distillers and Distributors

by Burr & Forman on

In addition to the more publicized portions of the recent tax legislation, certain provisions also positively impact your favorite local craft brew, regional small batch wine or even a locally distilled alcoholic beverage....more

2017 Tax Reform Legislation: Impact on Tax-Exempt Organizations, including Educational and Health Care Institutions

?The 2017 tax reform legislation colloquially referred to as the Tax Cut and Jobs Act (the Act) includes a number of provisions that will affect tax-exempt organizations of all types, as well as provisions that will affect...more

Tax Reform’s Effect on the Sports Industry

by Proskauer - Tax Talks on

On Friday, December 22, 2017, President Trump signed into law H.R. 1, the $1.5 trillion tax reform law known as the Tax Cuts and Jobs Act (the “Tax Reform Act”). This alert describes provisions of the Tax Reform Act that we...more

It's Official: Brewers Will Pay Less Tax in 2018. Now What?

by Ward and Smith, P.A. on

On December 22, 2017, the President signed into law the Tax Cuts and Jobs Act, which reduces the federal excise tax on brewers for years 2018, 2019, and 2020. A detailed description of how the new law reduces brewers' excise...more

Tax Reform Provisions Affecting Exempt Organizations

by Cozen O'Connor on

This Alert, which is one of a series from Cozen O’Connor dealing with the recently enacted federal tax reform legislation, summarizes the salient provisions of the new law affecting tax-exempt organizations....more

Making Craft Beer and Spirits Great Again

On Friday, December 22, just in time for Christmas, President Trump signed into law the Tax Cuts and Job Acts (TCJA). Although many have been quick to criticize the new tax plan, craft brewers and distillers have something to...more

New Tax Cuts and Jobs Act Affects Employee Benefit Plans and Executive Compensation Arrangements

by Ballard Spahr LLP on

The Tax Cuts and Jobs Act, signed into law by President Donald J. Trump shortly before Christmas, is the most significant tax reform legislation in more than 30 years. ...more

Tax Reform: The Five Big Changes Affecting Employee Benefits

by Dickinson Wright on

On December 22, 2017, President Trump signed H.R. 1 (formerly, the “Tax Cuts and Jobs Act” (the “Act”)) into law. While the Act was primarily focused on business tax cuts and individual tax reform, the Act includes several...more

New Tax Law Brings Penalties for Top Paid Non-Profit Executives

The “intermediate sanctions” rules under Section 4958 of the Internal Revenue Code have long governed the payment of compensation to executives of public charities. While these rules are highly prescriptive, if followed, they...more

Tax Cut and Jobs Act to Cause Significant Financial Disruption to Sports and Entertainment Businesses

by Stinson Leonard Street on

On Friday, December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (the Act). While the emphasis of the Act focused on the reduction of corporate rates, and the repeal of the Affordable Care Act's...more

New Tax Bill Includes Significant Changes to Federal Alcohol Excise Taxes

by Williams Mullen on

On Wednesday, December 20, 2017, Congress passed H.R. 1, commonly known as the Tax Cuts and Jobs Act (the “Act”), and President Trump signed the Act into law on Friday, December 22nd. The Act makes significant changes to...more

Tax Cut and Jobs Act Changes Will Impact Tax Exempt Organizations

by Stinson Leonard Street on

Charitable organizations no doubt have questions following the passage of the Tax Cut and Job Changes Act. Many are rightly concerned about the impact of the increased estate tax exemption amounts, the expanded standard...more

Congress Overhauls Excise Taxes for Alcohol Producers

Brewers, vintners and distillers across the country raised their glasses as Congress passed the Tax Cuts and Jobs Act and, with it, the Craft Beverage Modernization and Tax Reform Act of 2017. The Craft Beverage Tax Reform...more

Tax Reform Advisory:  Exempt Organizations

by Goulston & Storrs PC on

On December 22, 2017, the President signed into law H.R. 1, informally known as the “Tax Cuts and Jobs Act” (the “Act”), implementing sweeping changes to United States tax regimes for exempt organizations, businesses in which...more

Update: Several Ways Final Tax Reform Legislation Will Change Healthcare

by Morgan Lewis on

Tax-exempt bond financing, an anticipated impact to philanthropic donations, repeal of the individual mandate, and taxation of highly compensated executives are among the changes for 2018....more

Tax Reform: New Law Delivers A Bundle Of Executive Compensation And Employee Benefits Changes For The Holidays

by Akerman LLP on

Signed into law by President Trump on December 22, the final version of the tax reform bill (the “Act”) is not as far-reaching on executive compensation as the earlier version we previewed. However, the Act makes several...more

Excise Tax Relief for Breweries, Wineries and Distilleries

by McDermott Will & Emery on

The new tax law formerly referred to as the Tax Cuts and Jobs Act of 2017, provides a temporary reduction in alcohol beverage excise taxes for US brewers, winemakers, distillers and beverage importers. Temporary tax relief is...more

Nonprofit Guide To The “Tax Cuts And Jobs Act”

by Seyfarth Shaw LLP on

The 2017 “Tax Cuts and Jobs Act” impacts tax-exempt organizations in a variety of ways, including by reducing incentives for charitable giving, applying an excise tax on executive compensation in excess of $1 million per...more

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