§13001

ioners. Allison M. Case, Gregory Michael Hahn, and Logan M. Westerman, for respondent. OPINION TORO, Judge: The Tax Cuts and Jobs Act (TCJA), Pub. L. No. 115-97, 131 Stat. 2054 (2017), lowered the income tax rate applicable to corporations. See TCJA § 13001, 131 Stat. at 2096.1 To provide a measure of parity for noncorporate business taxpayers (including taxpayers who are taxed on income earned by passthrough entities, such as S corporations),2 the TCJA also introduced a new deduction under 1 Un

115-97, § 13001(a), (c), 131 Stat. 2054, 2096, 2098. 6 [*6] that teller would appear on bank statements as “NV TLR Transfer,” instead of indicating the entity that had originated the transaction. B. BCH BCH is a Nevada corporation that had its principal place of business in Illinois when it filed its Petition. Robert was the sole officer of BCH during the