Deductions of Floor Plan Inventory Interest for Manufactured Housing

From the Manufactured Housing Institute on December 16, 2017: On Friday, December 15, 2017, the House-Senate tax conference committee released its final agreement for H.R. 1, the Tax Cuts and Jobs Act. The bill is expected to be voted on by the House and Senate next week. Throughout the process, MHI has been actively working on a tax issue of importance to MHI members - the deductibility of floor plan interest for manufactured home retailers. MHI is pleased to report that under the final language, the vast majority of manufactured home retailers, those with average annual gross receipts of no more than $25 million, will be able to deduct all of their floor plan inventory interest. MHI had as

Senate Relives Manufactured Home Retailers and Sellers from Dodd-Frank

HOUSING ALERT FROM MHI DATED DECEMBER 5, 2017 The Senate Banking Committee passed legislation to clarify that a manufactured housing retailer or seller is not considered a "loan originator" simply because they provide a customer with some assistance in the mortgage loan process. This is a key tenet of S. 1751, the Preserving Access to Manufactured Housing Act, which excludes manufactured housing retailers and sellers from the definition of a loan originator so long as they are only receiving compensation for the sale of a home. The language was passed as a part of S. 2155, the "Economic Growth, Regulatory Relief and Consumer Protection Act," which is a package of reforms intended to improve

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