NSPE joined with the American Institute of Architects and the American Society of Landscape Architects in sending a letter to legislators on worrisome provisions in tax legislation currently being considered by Congress. Both the House and Senate versions of the legislation would exclude engineering firms organized as pass-through businesses—including S corporations, partnerships, and LLCs—from tax breaks. The House and Senate have passed their own versions of the legislation. The House legislation excludes engineering and other professional services. The Senate legislation’s 23% tax deduction is available only to professional services firm owners whose taxable income is below $500,000 (married filing jointly)/$250,000 (individual). These bills will now be brought to a joint House-Senate conference committee. NSPE will provide an update on the final resolution of the legislation.
NSPE Opposes Worrisome Tax Provision
Thursday, December 7, 2017