If you're one of those businesses, and most of those are small businesses, however you want to define it, if you're one of those pass through entities that files taxes in that way, what happens is there's a qualified business deduction that is under Section 199A... gets your tax rate, effective tax rate down from 43% to 21%. And if we don't do it, if we don't do anything between now and next year, if we do not pass a Tax Cuts and Jobs act extension, then those … (59:01–59:46)
CLAIM
Asserts that Section 199A reduces the effective tax rate for pass-through entities from 43% to 21%.
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