199A TCJA - The S Corporation Association

Congressman Hern Hosts 199A Roundtable

The Main Street Employers Coalition gathered in Oklahoma City earlier today for a roundtable discussion with Congressman Kevin Hern, himself a former pass-through owner and an original cosponsor of our 199A permanence bill.

It was a perfect venue for the gathering. Nearly two out of every three private sector jobs in Oklahoma are supplied by pass-through businesses who rely on 199A to reinvest in their workers and their communities, all while remaining competitive with larger publicly traded companies.

It’s the sixth event the group has …

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admin2024-10-30T13:53:28+00:00October 30, 2024|

Congresswoman Beth Van Duyne Hosts Texas Roundtable on 199A

Members of the Main Street Employers Coalition today joined Congresswoman Beth Van Duyne to discuss the critical role the Tax Cuts and Jobs Act (TCJA) and its Section 199A Main Street business deduction have played in driving investment and supporting job creation. It was the fifth event (see here, here, here, and here) we’ve helped organize under the Ways & Means tax teams banner, an effort initiated by committee Chairman Jason Smith aimed at soliciting feedback from businesses affected by the looming fiscal cliff.

The event kicked off with a tour of …

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admin2024-10-15T21:23:57+00:00October 15, 2024|

Tax Teams Comment Summary

Back in April, Chairman Jason Smith announced the formation of ten tax teams designed to identify legislative solutions to avert the coming 2025 fiscal cliff.

In addition to engaging directly with Main Street employers through hearings and roundtables (see here, here, here, and here), the effort requested feedback from stakeholders as to their priorities for the coming year. S-Corp and its allies responded with numerous comments, including:

Main Street Comments on Section 199A
S-Corp Comments on Section 199A and other Priorities
S-Corp Comments on International Tax Changes
S-Corp Comments on Excess …

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admin2024-10-15T17:05:30+00:00October 15, 2024|

Arrington Talks 199A and Chamber Hits Hill

Couple of items worth highlighting on the Section 199A front. First, House Budget Committee Chair Jodey Arrington (R-TX) joined CNBC’s Squawk Box yesterday to talk fiscal cliff and the ever-growing budget deficit. Asked by host Andrew Ross Sorkin whether going to a corporate tax rate of 15 percent “is the right answer,” Arrington replied:

I’m more interested in locking in permanent small business tax breaks that will expire at the end of next year, like the 20-percent 199A deduction, where Kamala Harris, in her tax proposal, would allow that to expire. When she says she won’t allow taxes to go …

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admin2024-10-10T16:46:45+00:00October 10, 2024|

Congressman Kustoff Hosts 199A Roundtable in Memphis

Members of the Main Street Employers Coalition convened in Memphis, Tennessee yesterday for a roundtable event hosted by Congressman David Kustoff. It was the latest of many “Tax Teams” events we’ve held in recent months and is part of Ways & Means Chairman Jason Smith’s plan to solicit input from stakeholders as lawmakers work to avert the 2025 fiscal cliff.

The group in attendance spanned all corners of the Main Street business community, from wine and spirits wholesalers to contractors to restaurant and barbershop owners. As with previous roundtables, participants focused on the Section 199A deduction and the disastrous consequences of …

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admin2024-10-04T15:17:25+00:00October 4, 2024|