The Washington Wire - The S Corporation Association

199A EY Study: Briefing Recap & Recording

Earlier this week S-Corp hosted a briefing to present the results of its latest study, which illustrates just how much economic activity is supported by the Section 199A deduction. The event featured Bob Carroll, Co-Director of EY’s US National Tax Quantitative Economics and Statistics Group (QUEST) and author of the new report, who walked through his findings. (Click here to watch a replay of the briefing.)

The key takeaway is that Section 199A supports 2.6 million jobs, drives $161 billion of employee compensation, and is responsible for $325 billion of …

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admin2024-09-11T16:28:37+00:00September 11, 2024|

S-CORP Briefs Tax Team on 199A Study

Earlier today S-CORP President Brian Reardon was on Capitol Hill to brief members of the Main Street Tax Team on our new study that quantifies the economic footprint of the Section 199A deduction.

Congressman Lloyd Smucker, Chair of the Main Street Tax Team and lead sponsor of our 199A permanence bill in the House, led the meeting and was joined by Representatives Ron Estes of Kansas, Greg Murphy of North Carolina, and Kevin Hern of Oklahoma. Representative Murphy recently hosted us for a roundtable event in his home state of …

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admin2024-09-10T18:05:02+00:00September 10, 2024|

Millions of Jobs at Risk without Section 199A

Today, S-Corp released its latest study in support of the Section 199A deduction for small and family-owned businesses. Authored by Robert Carroll at EY, the study focuses on the economic footprint of the 199A deduction and answers the question: “Just how much economic activity is supported by Section 199A?”

You can access the full report here: As it states:

This report estimates the US economic activity – jobs, employee compensation, and gross domestic product (GDP) – supported by the Section 199A deduction in 2024. Specifically, this analysis provides a snapshot of the economic activity supported at businesses directly benefitting from the …

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admin2024-10-10T15:42:09+00:00September 9, 2024|

Main Street Backs Bipartisan CTA Delay Bill

Today the S Corporation Association joined with 150 of its trade association allies to support legislation to delay the Corporate Transparency Act’s year-end reporting deadline.

The bill, H.R. 9278, was introduced by Iowa Congressman Zach Nunn (R) and enjoys bipartisan support. Its purpose is straightforward – provide much-needed relief to tens of millions of small businesses and other entities subject to the CTA’s reporting requirements. As the letter notes:

The CTA is unique in that it explicitly targets the very companies least equipped to shoulder its regulatory burdens. Among its various exemptions, the statute includes a carve out for entities whose …

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admin2024-09-04T13:04:29+00:00September 3, 2024|

North Carolina Roundtable Highlights 199A

Earlier today members of the Main Street Employers Coalition met for a roundtable event in Greenville, North Carolina, hosted by Congressman Greg Murphy. The gathering was part of a broader House Ways & Means Committee initiative to solicit input from the business community as lawmakers develop legislative solutions to avert the 2025 fiscal cliff. It also comes on the heels of similar events with Congressman Smucker in Pennsylvania and Congressman Steube in Florida.

The event took place at East Carolina University and drew a diverse group of local business …

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admin2024-08-22T18:31:20+00:00August 22, 2024|