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Luca CM Melchionna, Esq., Managing member Luca CM Melchionna has 25+ years of experience in both private practice and academia, in Italy and in the United States. He is a...
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About us
Mission and Values
Mission Melchionna PLLC is an indipendent law firm. Melchionna PLLC’s mission is to provide outstanding legal services and tax advice. We focus on building a relationship with...
About us
Melchionna PLLC, a law firm with a focus on business, corporate, tax, and IP law.
About us Melchionna PLLC represents and assists North American and European business clients in achieving their goals with sound legal advice and innovative solutions to current...
International tax
Tax Cuts and Jobs Act 2017
The Tax Cuts and Jobs Act (TCJA), aimed at reducing the US’s federal tax burdens, came into effect on January 1, 2018. The most important aspects of the TCJA concern the reduction...
M&A and corporate law
Arbitration Clauses in Labor Contracts: Renouncing Class Actions is Legitimate
On May 21, 2018 The Supreme Court of the United States established a relevant principle in terms of hourly compensation in labor contracts and alternative conflict resolution in...
Food law
The Food Safety Modernization Act, FSMA
The FSMA gives the Food and Drug Administration (“FDA”) authority to regulate food grown, harvested, or processed in the US or elsewhere. The FDA has the duty to better protect...
M&A and corporate law
Quadro Economico USA – il mercato delle M&A e’ in ripresa per le aziende medio piccole
I dati piu’ recenti pubblicati dal Bureau of Economic Analysis (BEA) registrano la solidità del quadro economico degli Stati Uniti, con un PIL che evidenzia, nel terzo trimestre...
Money laundering
FATF e Anti Money Laundering (AML) Regulations
Il Dodd-Frank Act e il JOBS Act (Jump Our Business Startups) richiedono alle societa’ target americane, come noto, una serie di disclosure finanziarie molto accurate. Sulla base...
M&A and corporate law
FIRRMA, Foreign Investment Risk Review Modernization Act: sara’ piu’ difficile investire negli USA in alcuni settori chiave
Per l’anno fiscale 2019 e’ stato introdotto il “National Defense Authorization Act”, che ha rinnovato ed ampliato i poteri della Commissione sugli investimenti stranieri negli...
International tax
Offshore Voluntary Disclosure Programs, (OVDP): A critical step in the movement towards transparency
In the last two decades, [After 1989, transparency and privacy became an increasingly topic of investigation and discussion among scholars and professionals. From 1989 to 2015 the...
Food law
“Food Revolution”. A growing opportunity for higher quality food
According to the most recent data, nearly two third of United States population is reportedly overweight or obese. However, there is a growing segment of the population which is...
Fashion law
How vulnerable is your trademark when it comes to cross border litigation?
Gucci and Guess have been fighting court battles since 2009 over a simple “G”. In 2012, the New York court ruled in favor of Gucci and ruled that Guess was guilty of copying four...
Technology law
How Artificial intelligence (AI) is creating more business opportunities
Sometimes ago, Uber launched the first self- driving car pickups test in Pittsburgh, PA. The experiment has so far been without major incident and has been met with a lot of...
Tax Cuts and Jobs Act 2017
The Tax Cuts and Jobs Act (TCJA), aimed at reducing the US’s federal tax burdens, came into effect on January 1, 2018.
The most important aspects of the TCJA concern the reduction of the federal tax rate, the reduction of individual income tax rates and the increase in tax deductions.
Corporate tax cuts are permanent, while other changes will remain in effect until 2025 (including the new standards for individual income taxes).
Individual Income
The progressive structure of 7 tax brackets has remained in place, with a relative percentage reduction. The maximum rate has decreased from 39.6% to 37%. The minimum rate remains 10%. However, certain deductions are not available any longer.
Corporate Income
The previous four brackets were abolished and a single corporate income tax rate of 21% was introduced. Simultaneously, the c.d. Alternative Minimum Tax (AMT) has been abolished.
Greater Incentives for Investing in the USA
Accelerated depreciation was introduced, attributed fully to investments in equipment put into service between September 27, 2017 and December 31, 2022. Starting in 2023, the deduction will be 80%, and it will decrease by 20% in the following years.
The deduction, up to a maximum of 1 million dollars, is now available for expenses on cars, company machinery, office equipment and computers. This favors small businesses and start-ups that may be subject to an immediate deduction.
Other news worth mentioning is: (a) the introduction, in 2018, of the limit to carry forward losses up to 90% of taxable income, which will be reduced to 80% starting in 2022. (b) the abolition of the Carryback.
Regarding transparent entities, the deduction on the profits distributed to shareholders has been increased to 20%. This includes partnerships, LLC, real estate companies, hedge funds and private equity funds.
The information provided here does not, and is not intended to, constitute legal advice but simply information for general purposes only and may not be the most up to date. Use of our website or any of its links or resources do not create an attorney-client relationship between the reader, user, or browser and the law firm. The views expressed at, or through, this site are those of the individual authors writing in their individual capacities only.