The Tax Cuts and Jobs Act enacted at the end of 2017 has impacted businesses and individuals and alike. After its passage, the LSTA hosted Latham & Watkins for a webcast on the projected impact of tax reform on financings. While predictions could be made then, much of the detail was left to implementing guidance and was then unknown. Last week, roughly 18 months later, Jiyeon Lee- Lim, Elena Romanova and Jane Summers, partners at Latham & Watkins, returned to give an update now that some of those details have been filled in.
Since the tax reform was signed into law last December, LSTA members have wondered what it means for the loan market (and for themselves). We have begun to answer at least part of the first question. On Thursday, January 30, 2018, Jiyeon Lee-Lim, Elena Romanova and Jane Summers, partners at Latham & Watkins, laid bare the new tax rules generated by the Tax Cuts and Jobs Act. While the Act includes important changes impacting businesses and individuals, the panelists highlighted those new tax rules particularly relevant for financings.
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