Some Businesses Required to Use Blended Tax Rate for 2018

U.S. corporations that use a fiscal year end instead of a calendar year end for federal income taxes will need to use a blended tax rate this year. Due to a provision in the recently enacted Tax Cuts and Jobs Act (TCJA), a corporation with a fiscal year that includes Jan. 1, 2018 will pay their federal income tax using a blended tax rate and not the flat 21 percent tax … [Read more...]