Job Creation

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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 As the letter notes: These outdated rules hurt the ability of S corporations to grow and create jobs.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 limit their ability to attract investors or even utilize the value of their ...

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Business Community Rallies Around S Corporation Modernization2019-02-06T17:21:54+00:00

Senate Jobs Bill First Out of the Chute

With health care reform in a state of political limbo, Senate leadership is busy assembling a job-creation package that is likely to be the chamber's next significant legislative effort. Just before Christmas recess, the House hastily assembled and adopted a $154 billion spending package. In response, the Senate Finance Committee is working on a package that focuses more on tax relief than the House counterpart. As reported by Dow Jones: The package would be paid for largely by re-directing funds that were available for the government's bank bailout program, according to an outline dated Friday of possible measures being considered ...

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Senate Jobs Bill First Out of the Chute2019-02-06T17:21:55+00:00

Estate Tax & PAYGO

  The House is scheduled to take up a Paygo bill -- short for b"pay-as-you-go" -- this week that makes room for an estate tax fix. Paygo was established back in 1990 as a means of controlling the Federal deficit. Under Paygo, any increase in the deficit, either by a reduction in revenues or an increase in mandatory spending, must either be fully offset or it will be added to the Paygo scorecard and possibly trigger an across-the-board spending cut (called sequestration) at the end of the fiscal year. Of interest to S-CORP readers, the bill to be considered by ...

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Estate Tax & PAYGO2019-02-06T17:21:56+00:00

S Corp Modernization Introduced in the Senate!

Good news for S corporations! S-CORP allies Senator Blanche Lincoln (D-AR) and Orrin Hatch (R-UT) today introduced the "S Corporation Modernization Act of 2009." This legislation is similar to bills offered in previous Congresses and includes many of our Association's priorities for the year. In a statement accompanying the bill, Senator Lincoln noted: "A strong economic recovery will depend on the health and strength of our small business sector," Lincoln said. "Over four million of our small businesses across the nation are organized as S corporations, including more than 40,000 in Arkansas, and at least 60 percent of the new ...

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S Corp Modernization Introduced in the Senate!2019-02-06T17:21:56+00:00

Small Business Exporters to the Rescue

In a bit of good news, the new trade numbers came in and are in line to add 1.8 percent to the GDP in the second quarter. That, and stronger than expected retail sales numbers, should result in GDP growth of more than 2 percent in the second quarter, putting another dent in public perception that we are in the midst of a recession. The explosion of exports over the past couple of years is an under-reported story. Exports are up nearly 18 percent in just the last twelve months and almost single-handedly kept the economy from contracting in the ...

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Small Business Exporters to the Rescue2019-02-06T18:06:07+00:00