What’s the impact of the Tax Cuts and Jobs Act on community banks?

Description

Abstract: Last year’s tax reform legislation — the Tax Cuts and Jobs Act (TCJA) — represents the most significant overhaul of the Internal Revenue Code in decades. This article provides a summary of the provisions that are most relevant to community banks, such as the corporate tax rate reduction and a new limit on net business interest expense deductibility. A sidebar discusses some provisions that didn’t make it into the final bill.