NMMA to hold tax webinar on March 20

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The National Marine Manufacturers Association is holding a webcast on March 20 to help inform businesses how to handle their entity structure after recent tax cuts.

Most pass-through businesses consider their entity structure only once — at the time of formation.

The Tax Cuts and Jobs Act, however, has taken the traditional rules and turned them upside down, according to the NMMA.

Corporate tax rates have been slashed from 35 percent to 21 percent, while pass-through businesses such as S corporations and partnerships may qualify for a new pass-through deduction that would effectively cut their tax rates from 39.6 percent to 29.6 percent.

NMMA members are invited to join a live webcast on Tuesday, March 20 at 1 p.m. EDT to learn how tax reform has transformed the playing field for pass-through entities.

During the 60-minute webcast, the NMMA will address whether companies should remain an S corporation, effectively paying a 29.6- or 37-percent tax rate, or if it can get a 21-percent tax rate as a C corporation.

The group will also explore whether partnerships can convert to C corporation status to enjoy the lower corporate tax rate.

Finally, it will address the role state and international considerations play in the decision.

Register here.


Maine Boatbuilders Show opens tomorrow

In its second year in a new location, the Maine Boatbuilders Show opens tomorrow at 10 a.m. at the Portland Sports Complex. Sail and powerboats, plus engines and accessories will all be on display.