S Corp Mod

/S Corp Mod

S-Corp Mod Introduced in Senate!

Senators John Thune (R-SD) and Ben Cardin (D-MD) today introduced S. 2156, the 2019 version of the S Corporation Modernization Act.  The new Modernization Act focuses on leveling the rules between S corporations and other business forms while increasing the opportunity for S corporations to raise capital.  Among other items, the bill would: Provide meaningful relief from the so-called “Sting Tax” passive income rules; Expand the ability of IRAs to invest in S corporation banks; and Level the tax-treatment of asset sales with sales of S corporation stock. As the Senators noted at the introduction: “While I believe we’ve made ...

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S-Corp Mod Introduced in Senate!2019-07-18T19:11:57+00:00