Tax Alert – What Will Change In The Move From NAFTA To USMCA?

On Sept. 30, 2018, Canada agreed to a last-minute deal to replace the existing North American Free Trade Agreement (NAFTA). This new 21st century trade agreement, set for implementation in the year 2020, will bear the name United States-Mexico-Canada Agreement (USMCA) and will maintain tariff-free access to goods as in the original NAFTA. The USMCA still requires signature by all parties involved and ratification by each country’s government. The finalization of USMCA is expected to take several months.

Read more about the USMCA

Related Resources

Article

Challenges in Business Succession Planning: Cash Flow Strategies for Estate Tax Liabilities

April 19, 2024
Article

Challenges in Business Succession Planning: Cash Flow Strategies for Estate Tax Liabilities

April 19, 2024

Individuals with substantial business holdings often face complicated estate tax issues, the costs of which can be unexpected and significant. Failing to recognize and plan for these issues may adversely impact the ability of the estate to timely pay any estate tax it owes.

Read More

Article

Unlocking Opportunities with Private Credit Funds

April 18, 2024
Article

Unlocking Opportunities with Private Credit Funds

April 18, 2024

Private credit funds are on the rise, but are they all the best path to dealmaking? Firms considering private credit funds as part of their overall investment strategy should understand the advantages – and risks– of these investments.

Read More

Article

IRS Grants Limited Relief for Estimated Payments of CAMT Liability

April 17, 2024
Article

IRS Grants Limited Relief for Estimated Payments of CAMT Liability

April 17, 2024

The IRS on April 15 released guidance (Notice 2024-33) providing a waiver of penalties for underpayments of estimated income tax attributable to the corporate alternative minimum tax (CAMT).

Read More

Article

IRS, Treasury Issue Proposed Regulations on Stock Repurchase Excise Tax

April 15, 2024
Article

IRS, Treasury Issue Proposed Regulations on Stock Repurchase Excise Tax

April 15, 2024

The Treasury Department and the IRS on April 9 released two sets of proposed regulations containing guidance on the application and reporting of the corporate excise tax on stock repurchases by some publicly traded corporations. The 1% excise tax, introduced by the Inflation Reduction Act of 2022, generally applies to stock repurchases made after December 31, 2022.

Read More