Page 43 - Tax Reforms - Businesses

Blended Federal Income Tax (3/6)

T A BLENDED

Many U.S. corporations elect to use a fiscal year
end and not a calendar year end for federal
income tax reporting purposes.
TAXES
S X Due to a provision in the TCJA, a corporation with

a fiscal year that includes Jan. 1, 2018 will pay
federal income tax using a blended tax rate and

E not the flat 21 percent tax rate under the TCJA that
would generally apply to taxable years beginning
after Dec. 31, 2017.

https://www.irs.gov/newsroom/businesses

https://lentcpa.com