Uncategorized - The S Corporation Association

New Name, Same Mission

It’s a new year, so we’ve rolled out the latest version of our pass-through business principles. As in previous years, the letter hits on the three key elements necessary for any successful tax reform plan – it needs to be comprehensive, restore rate parity, and continue to reduce or eliminate the double tax on corporate income.

Also as in previous years, the list of signatories is long! With more than 100 national business groups signed on, the letter once again demonstrates the widespread support for tax reform that treats Main Street employers as equal partners.

What is new this year, however, is …

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admin2019-02-01T19:56:25+00:00March 22, 2016|

S-Corp in WSJ

S-Corp President Brian Reardon and Advisory Committee Chair Tom Nichols made the pass-through tax reform case in the pages of the Wall Street Journal on Friday.

The core message of the piece is that businesses both large and small have already voted against the concept of double-taxing business income, and it’s time for the tax code to catch up. As the piece notes:

On paper, the U.S. has a world-wide tax system that imposes two layers of tax on overseas business income—an initial foreign tax when the money is earned and a second U.S. tax when the money is repatriated. In …

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admin2019-02-01T19:56:25+00:00March 1, 2016|

More on the Administration’s Budget

We weren’t the only ones who noticed the President’s budget for 2017 is bad for Main Street Employers. Numerous outlets ran stories (CQ, Bloomberg, and Morningstar) focusing on the negative impact the President’s tax proposals would have on S corporations and other pass-through businesses. As our friends from NFIB noted about the Administration’s proposal to expand the Net Investment Income Tax (NIIT) to all pass-through business owners:

“It’s not closing any gap,” said Nick Karellas, tax counsel at the National Federation of Independent Business. “It’s just blatantly a revenue grab on small-business owners who are actively participating in …

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admin2019-02-01T19:56:25+00:00February 19, 2016|

Administration Budget

The President’s budget is out and, as usual, it includes a number of retread proposals to hike taxes on pass-through businesses, including the Buffett Tax and a big hike in the capital gains tax. We’ve dealt with these in the past.

There is, however, a new tax hike directly targeted at the Main Street Employer next door – an expansion of the Net Investment Income Tax (NIIT) to include all S corporation shareholders and other pass-through business owners.

The NIIT was enacted to help pay for the Affordable Care Act and is designed to tax the investment income of taxpayers …

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admin2019-02-01T19:56:25+00:00February 9, 2016|

Our Chairman’s New Year Message

2015 was a terrific year for the S Corporation Association. We saw the shorter, five-year built-in gains recognition period made permanent, we organized the Main Street business community into a coherent advocacy force, and we successfully blocked misguided efforts to enact President Obama’s corporate-only tax reform plan.

For 2016, our goal is to build on these successes to ensure more legislative wins this year and beyond.

That means educating policymakers on how taxes on S corps already went up sharply in 2013 and working to enact legislation to repeal that tax hike.
It means building out our pass-through business coalition to ensure that …

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admin2016-01-22T17:43:11+00:00January 22, 2016|