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Loan-Out Corporations after Tax Reform and CA Supreme Court Decision in 'Dynamex'
The tax reform bill signed by President Trump at the end of 2017 (the Tax Cut and Jobs Act) has caused us to take a fresh look at many long-held assumptions about how to take into account income taxes in planning for the entertainment industry. In particular, the new legislation includes provisions that make loan-out corporations the entity of choice even more so than ever before.
At the same time, the California Supreme Court recently decided a case that has the potential to eviscerate loan-out corporations entirely.
This article discusses loan-out corporations in light of these two important developments.
Loan-Out Corporations in General
Loan-out corporations have been a staple of the entertainment industry for many decades. When used properly, they provide a number of tax and other benefits to their owner-employees.
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