Home/Tag: family-owned

Business Community Rallies

Thousands of family businesses signed a letter this week calling on the Department of the Treasury to withdraw proposed regulations that target family businesses for sharply higher gift and estate taxes.

Getting that many private companies to weigh in on a public issue like this one is simply astounding, and should serve as an indication of just how threatening these regulations are to the ability of family businesses to survive from one generation to the next. As Law360 reported on the letter:

NAM released a letter with more than 50 pages of signatures urging Lew to pull the proposed regulations,

(Read More)

2019-02-01T19:49:54+00:00September 30, 2016|

Business Community Rallies Around S Corporation Modernization

Last week, your S-CORP team sent a letter signed by 22 of our association allies to members of the House and Senate, urging them to cosponsor legislation to replace the dated rules that have governed S corporations for over fifty years. As the letter notes:

These outdated rules hurt the ability of S corporations to grow and create jobs. Many family-owned businesses would like to become S corporations, but the rules prevent them from doing so. Other S corporations are starved for capital, but find the rules

(Read More)

2019-02-06T17:21:54+00:00January 27, 2010|

S-Corp Organizes Defense of Family Business

 

Led by S-CORP, a coalition of fifteen small business trade associations sent letters last week to the Senate Finance and House Ways and Means Committees urging policymakers to protect the interests of family-owned businesses during the upcoming estate tax debate.
“Penalizing businesses simply because they are family-owned is inconsistent with good tax policy, it creates an unworkable framework with two conflicting definitions of fair market value, it makes it more difficult for these family businesses to be passed on from one generation to the next, and should be rejected by Congress,” the

(Read More)
2019-02-06T17:21:55+00:00November 2, 2009|

Update on Estate Tax

We’ve been visiting Capitol Hill offices over the past couple weeks to talk about the estate tax and its impact on family businesses and now have a clearer idea of where the issue is headed. Here’s our latest intelligence.

As Ways and Means Committee Chairman Charles Rangel (D-NY) announced the other day, he intends to move separate legislation next week making permanent the 2009 estate tax rules, including an exemption amount of $3.5 million per spouse and top tax rate of 45 percent. Having the House move a permanent fix to the estate

(Read More)

2019-02-06T17:21:55+00:00October 27, 2009|