Item 1A. Risk Factors
Item 1A. Risk Factors
On September 10, 2021, Senate Finance Committee Chair Ron Wyden released draft legislation that would make significant changes to the current partnership tax rules. While it is highly uncertain whether the draft legislation will become law, if the draft legislation were to be enacted in its current form AB Holding would lose its status as a “grandfathered” PTP and become subject to federal and state corporate income tax and pay significantly more federal and state corporate income tax. See Part 1, Item 1A "Risk Factors" in our Annual Report on Form 10-K ("AB 10-K") for the fiscal year ended December 31, 2020 for further details surrounding changes in the tax law governing partnerships.
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