ISRI worked hard to secure provisions in the comprehensive tax reform package that was passed in late 2017. Benefits for the recycling industry include:
More on Tax Reform
- Offering a 100 percent expensing provision for businesses to immediately write off the full cost of new equipment;
- Lowering the corporate tax rate to 21 percent beginning on January 1, 2018;
- Providing a 20 percent tax deduction that applies to the first $315,000 of joint income earned by all business organizations as S corporations, partnerships, LLCs, and sole proprietorships;
- Preserving the research & development tax credit;
- Eliminating the corporate alternative minimum tax; and
- Modernizing the international tax system enabling global companies to repatriate their profits back to the U.S.