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The Tax Cuts and Jobs of 2017 included a number of promised provisions to cut the corporate tax rate on a permanent basis, provide time limited tax cuts for individuals and incorporate a number of provisions that may change taxpayer behavior on everything from housing choices to charitable giving to education.

On June 21, 2018, the Supreme Court ruled that a state may require remote sellers to collect sales tax, overturning the bright line physical presence test. Any seller with a substantial virtual or economic presence can now be obligated to collect sales tax without violating the Constitution. This is a major win for states, as it will allow for an $8 to $33 billion increase in aggregate revenue for use for public duties. However, in the months since the South Dakota v Wayfair ruling, business owners have been left with considerable uncertainty about what the new economic presence test means for them.

The recent passage of the Tax Cuts and Jobs Act and the changes it makes to rate structures and other tax provisions create an opportunity in the final days of 2017 to permanently save tax dollars.