W3Schools

: Here are the Trump tax cuts’ hidden stock-market winners

There are winners under the new tax law — and then there are the really big winners.

Any company that pays enough in taxes will save money because the corporate tax rate was cut to 21%. But the big winners are the ones that get a double shot of gains because they also have lots of deferred tax liabilities (DTLs), points out Charles Mulford, an accounting professor at Georgia Institute of Technology.

Think of a deferred tax liability as a store of value to offset higher taxes in the future. This situation typically arises when companies take deductions on big-ticket items at a faster rate for the tax books than for the regular financial statements that we see as investors.

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