U.S. Tax Reform: A Game-Changer for Manufacturers
Tuesday, May 22, 2018
Never before in the last three decades has the United States been presented with a more significant piece of tax reform legislation promising to improve the business environment for manufacturing companies. After all the speculation of how this will affect the industry, the bottom line is that the new tax reform will, in fact, positively impact the U.S. manufacturing sector.
This tax reform was intended to improve U.S. competitiveness and productivity through lower corporate tax rates, easier access to foreign cash with a modernized international tax system, and favorable expensing of capital acquisitions. In light of the new law, it is critical that manufacturing companies reassess their business models and look at how recent legislative changes may affect their operations.