UMB reviews business planning implications of the 2025 tax law

UMB has reviewed business planning considerations following the One Big Beautiful Bill Act, signed into law on July 4, 2025. Its September 2025 overview addresses business owners and operators, including those planning a company transfer.

The bank identifies gift and estate tax provisions, research and development expenses, bonus depreciation, qualified small business stock and opportunity zones among the areas to discuss with tax advisers.

Business succession is part of that discussion. UMB notes that the implications can depend on how ownership is passed to another person or organization.