Conveying to readers of a business and commercial law blog that material changes — diverse and multiple — might be on the horizon in the American business sector makes for a bit of an underwhelming declaration.
After all, business is never a static or quiescent endeavor. Indeed, it is always a volatile, fast-paced and constantly evolving enterprise that rewards smart, quick and opportunistic players, while simultaneously punishing those who don’t operate their concerns with optimal care and vision.
The bottom line is that the business environment in Ohio and nationally is always marked by complexity and rapid change. Notwithstanding that, though, it is worth pointing to the distinct possibility that the remainder of 2017 could truly bring some large-sized and flatly material developments that could significantly impact American businesses of virtually all types and sizes.
So imparts a recent article in the business-focused publication Accounting Today, which stresses that business principals “need to consider different scenarios for the possible corporate tax reforms now being weighed in Congress.”
Those are indeed material, and it is certainly advisable for commercial leaders to be well prepared to guide their enterprises optimally forward if/when significant change does occur.
The Accounting Today piece notes that one “hotly debated” possibility is a border adjustment tax, which could be imposed on imports to make up for a shortfall in tax revenues resulting from a potential corporate tax cut.
As for that tax slashing, many commentators say that it is imminent and should be expected. Accounting Today notes that it “seems to be the one item that has the most support across the board.”
The year is still young, with a relatively new presidential administration still feeling its way forward in the governing realm. As the new government gains traction, it could well be the case that some of the broadly endorsed as well as hinted-at proposals being suggested are enacted into law and truly do affect American businesses in a fundamental and wide-reaching way.