Your source for construction industry news in the Carolinas
According to Associated Builders and Contractors, the U.S. construction industry is still benefiting from the Tax Cuts and Jobs Act, which has helped small business owners grow their companies and workforce since its passage in December 2017. On Tax Day, ABC called on Congress to make the individual and pass-through small business deductions permanent—currently scheduled…
On December 22, 2017, the Tax Cuts and Jobs Act (the “Act”) was signed into law. The most sweeping tax change since 1986, the Act is intended to encourage economic growth and bring back jobs and profits from overseas by reducing corporate tax rates and providing other incentives. While it may be too soon to…
The last major tax reform legislation was passed in 1986. Since then, the tax rules – Internal Revenue Code amendments, regulations, procedural guidance and court case law – have morphed into a complex system for taxpaying contractors. The recently signed bill is a significant modification to the existing system and the consensus is clear. Most…
Congress recently passed the most significant tax reform legislation since 1986. The tax reform legislation will have a positive impact on architecture, design and construction companies in North Carolina and South Carolina as key provisions of the legislation will converge to drive business investment, employment and wages. “The vast majority of construction companies will benefit…
Congress has continued to make dramatic progress in approving an historic tax reform, with the Senate now joining the House in having approved separate versions of tax reform legislation. The effort to enact a reform of U.S. tax law providing a more competitive tax system for business taxpayers and improved economic opportunities for individuals and…
The American Institute of Architects expressed serious concerns about The Tax Cuts and Jobs Act (HR-1), the tax reform proposal unveiled today by House Ways and Means Committee Chairman Kevin Brady (R-TX). “The House Ways & Means Committee proposal, as drafted, will unfairly damage the thousands of small and family-owned businesses that organize as pass-through…
Michael D. Bellaman, president and CEO of Associated Builders and Contractors (ABC), released the following statement on the Tax Cuts and Jobs Act: “We are pleased House Republicans worked diligently with the White House to get a long-overdue tax reform bill off the ground and begin the legislative process. Our members will feel the direct…
President Donald Trump and Congressional Republicans released a plan for tax reform, entitled Unified Framework for Fixing Our Broken Tax Code. The impacts of the proposed tax reform will have impacts on the design and construction industry. The proposals face significant scrutiny and debate before actual legislation is addressed by Congress. Leading democrats wasted little time…
