excise tax - The S Corporation Association

Business Community Supports Estate Tax Relief

Last week, the S Corporation Association joined a group of nearly 50 small business organizations to support estate tax legislation (H.R. 3905) to make permanent rates and exclusion levels more favorable than those in place in 2009. In a letter to family business allies on the Ways and Means Committee, the Family Business Estate Tax Coalition stated:

The cost of the estate tax falls heavily on family businesses and farms. The cost comes not only from paying the …

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admin2019-02-06T17:21:55+00:00November 13, 2009|

Health Care Update

The idea of taxing high cost plans is relatively new, and there are many outstanding questions about how it would work. For example, how exactly how would this excise tax raise revenue? The Senate plan imposes a 40 percent excise tax on high value plans with a cumulative cost of more than $21,000. But medical loss ratios for private health insurance plans easily exceed 60 percent of premiums, so insurance companies confronted with a 40 percent excise tax will simply stop issuing those plans.

At the employer level, that means if an employer used to offer …

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admin2019-02-06T17:21:55+00:00October 6, 2009|

Stimulus Boost to Senate Bill

The initial GDP estimate for the first quarter of 2008 (based on data from October, November and December 2007) came in yesterday at a very low 0.6%.

That’s a big reduction from the 4.9% increase in the 3^rd quarter, and makes clear that the subprime and credit market problems that emerged beginning in August are reverberating through the broader economy.

Congress is responding. The House passed stimulus legislation on Tuesday by an overwhelming margin that would provide tax rebate checks to families of $1,200 per couple and $300 per child, as well as allowing businesses to write-off investments faster and banks to …

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admin2019-02-06T18:43:58+00:00January 31, 2008|