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Under the 2018 USA tax plan, I understand that "passthrough" entities are offered the same tax rate as corporations. What qualifies for this rate? An LLC? An S-Corp? Anyone who files Schedule-C? For sole proprietors (consultants, contractors, service professionals) what's the minimum setup required to qualify for the new tax rates? Is there any requirement that some of the savings be applied to creating jobs?

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Under the 2018 USA tax plan, I understand that "passthrough" entities are offered the same tax rate as corporations.

First, your understanding is slightly off, corporate tax rates under the new law are 21%, while the pass-through income is taxed at normal rates (that's what makes it pass-through, the entity has no tax rate, the income passes through the business entity and is taxed on the individual's return) but there's this new 20% deduction for pass-through income. The deduction is actually the lessor of 20% of net business income or 20% of taxable income for taxable income under $157,500 / $315,000 (single/married respectively).

There are phase outs above those amounts, and the phase out rules vary for certain trades/businesses.

What qualifies for this rate? An LLC? An S-Corp? Anyone who files Schedule-C?

Sole-proprietorships (schedule C filers), partnerships, S-corps, real estate investors, etc. Any situation where the business entity does not pay taxes but rather the tax burden passes through to the people who realize the business income/loss.

For sole proprietors (consultants, contractors, service professionals) what's the minimum setup required to qualify for the new tax rates?

The simplest setup would probably be claiming income on a Schedule C.

Is there any requirement that some of the savings be applied to creating jobs?

There is no requirement that the savings be applied to creating jobs, but there is incentive to turn contract workers into W-2 employees for some businesses (part of the phase out rules above certain income).

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    Small addition: LLC is passthrough by default but can elect to be treated as C or S corp and in the former case pay at the corporate level. Dec 29, 2017 at 7:27

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