Money

What Trump Victory May Mean For Business

Posted on November 9, 2016

Trump's economic plan involves cutting taxes, eliminating regulations, and overhauling trade deals. Doing so, he says, could help grow the economy at a 4 percent clip. (Currently, the U.S. GDP is growing at an annual rate of around 2 percent.)

Under Trump's tax proposal, top earners—taking in more than $699,000 a year—would see average annual tax reductions of about $215,000, according to an analysis by the non-partisan Tax Policy Center.

Companies could see an even bigger payoff. He'd reduce the corporate tax rate to 15%, from where it stands now at up to 35%. Many small businesses operate as limited liability corporations, sole proprietorships, and S corporations, which are all pass-through entities. It's not clear which pass-through entities would be eligible for the lower rate.

Inc. article here

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