Fiscal corporations are going to have a “blended” 2017-2018 tax rate because the Tax Cuts and Jobs Act reduced the corporate income tax rate from a maximum of 35% to a flat 21%. As a result, all fiscal year corporations will be in a higher tax bracket in 2017-2018 than they will be in future years, when they’ll be taxed at 21%. Thus, deductions in their 2017-2018 tax years will have greater value than in later years. The blended rate may have tax planning implications. Contact us for more information about your situation.