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Republican presidential nominee Donald Trump wants to tax all corporations at 15%, a rate reduction that could be a boon to some investment advisory firms.
For advisers who structure their practices so that its revenue is reported on their personal income tax returns, Mr. Trump’s idea represents a significant tax break.
Currently, so-called pass-through entities, partnerships, limited liability corporations and S corporations are taxed at individual rates, which can be as high as 39.6%, the top individual bracket. Traditional corporations are taxed at a 35% rate.
