Job Creation - The S Corporation Association

Jobs Bill on Senate Floor Next Week

Senate leadership has committed to taking up a Jobs bill next week. The details of the package are still being worked out, but the list released by the Senate Democrats includes:

Job Creation tax credit
UI and Cobra Extensions
Bonus depreciation and 179 expensing
Highway funding
Build America Bonds
SBA loans
Export Promotion
Some energy related tax items

Although it’s not mentioned, we do expect the tax extenders to also be part on the mix. On the other hand, an estate tax fix is not likely to be included. Senator Reid told reporters that he still plans to move legislation restoring the estate tax, …

(Read More)

admin2019-02-06T17:21:00+00:00February 5, 2010|

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These outdated rules hurt the ability of S corporations to grow and create jobs.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)

admin2019-02-06T17:21:54+00:00January 27, 2010|

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 …

(Read More)

admin2019-02-06T17:21:55+00:00January 26, 2010|

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…

(Read More)

admin2019-02-06T17:21:56+00:00July 21, 2009|

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 …

(Read More)

admin2019-02-06T17:21:56+00:00May 7, 2009|