Domestic shipowners in the US face two big changes to the corporate tax regime in the wake of the Tax Reform Act 2017, a signature legislative victory for President Donald Trump.
Under the new rules, Jones Act shipowners will lose the ability to deduct a portion of interest expenses or offset old losses against future taxes.
As a result, owners may face higher tax bills in the coming years as the lower tax rate is neutralised by the loss of those these deductions.
