Increased corporate tax rate Increased the standard deduction for corporations only Reduced corporate tax rate Eliminated all individual tax deductions

1. Analyze each statement in relation to known tax law changes: - **Increased corporate tax rate:** The Tax Cuts and Jobs Act actually reduced the corporate tax rate from \(35\%\) to \(21\%\), so this option is incorrect. - **Increased the standard deduction for corporations only:** Corporations do not receive a standard deduction. This option is incorrect because the concept of a standard deduction applies to individual taxpayers, not corporations. - **Reduced corporate tax rate:** This is correct. The law reduced the corporate tax rate from \(35\%\) to \(21\%\). - **Eliminated all individual tax deductions:** Although the law made several changes to individual deductions, it did not eliminate all individual tax deductions. This option is incorrect. 2. Conclusion: The correct choice is **Reduced corporate tax rate**.