While many banks suffered short-term pain due to writing down deferred-tax assets on their balance sheets, there’s a great amount of optimism over the long-term effect of tax reform on the banking industry. During this presentation we’ll discuss the Tax Cuts and Jobs Act (TCJA) and highlight key provisions for the banking industry, examine their effect on both C corporation and S corporation banks and discuss other tax planning considerations.
Upon completion of this program, participants will be able to:
- Discuss key provisions of the TCJA applicable to financial institutions
- Explain the corporate rate reduction and rules for rate changes
- Identify considerations for choice of entity and conversion to/from being taxed as a C corp