Tax Cuts and Jobs Act: Our Insights

On December 22, 2017, the President signed into law the U.S. tax reform bill, formerly known as the Tax Cuts & Jobs Act (“TCJA”).

This event marks the culmination of an extremely rapid legislative process, beginning with the bill’s introduction in the U.S. House of Representatives on November 2, 2017.  Most of the provisions of the TCJA went into effect on January 1, 2018.

We have prepared a side-by-side comparison of key provisions in the TCJA as previously introduced in the House and the Senate, as well as the version that the President signed on December 22.  Additionally, we have identified a number of ways in which the TCJA can impact global businesses and have prepared key takeaways to consider for:

• Multinational groups;
• U.S. financial institutions;
• Non-U.S. financial institutions;
• Companies that invest in real estate;
• The private equity industry;
• M&A transactions; 
• U.S. debt capital markets desks;
• Equity capital markets desks;
• Executive compensation; and
• Settlement payments.

On December 20, we hosted a webinar discussing the TCJA. Video of the program is available here.

Also, on November 7, we hosted a webinar on the House bill. Video of the November 7 program is available here.

The House tax bill, and related official documents, can be found here.

The Senate tax bill, and related official documents, can be found here.

The 2017 U.S. tax reform bill signed into law on December 22, 2017 (technically titled “An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018”), and related official documents, can be found here.