To amend the Internal Revenue Code of 1986 to make permanent the deduction for qualified business income.
Main Street Tax Certainty Act
This bill makes permanent the qualified business income (QBI) tax deduction.
Under current law, individuals, estates, and trusts may deduct the lower of (1) 20% of QBI from a qualified business, qualified real estate investment trust dividends, and qualified publicly traded partnership income; or (2) 20% of taxable income less net capital gain. (Some limitations apply.)
However, under current law, the QBI tax deduction expires after December 31, 2025.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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