Trump Tax Plan Drops 15% Rate for Hedge Funds, PartnershipsBy
Rate had been proposed for businesses’ ‘pass-through’ income
Low rate would apply only to corporate income, economist says
Republican presidential nominee Donald Trump has dropped a major tax cut for businesses organized as pass-through entities, including partnerships, from his tax overhaul proposals, according to the latest version of those plans.
The change will make Trump’s plan much less favorable for private-equity partners, hedge fund managers and others who receive income from partnerships, limited liability companies and S corporations. Such entities don’t pay income taxes themselves, but pass their earnings through to their owners, who are taxed at individual rates…
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