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BIG Update

It’s been an active week for supporters of an extension of built-in gains (BIG) tax relief.

First, Sens. Olympia Snowe (R-ME) and Mary Landrieu (D-LA) worked to find another way to highlight an extension of built-in gains relief, culminating in a package of small business tax and other provisions that got 57 votes on the floor today.

Together with Sens. Ben Cardin (D-MD) and Pat Roberts (R-KS), our Senate allies have continued to press the need to extend this important access to capital provision for small and closely-held businesses, and we appreciate their efforts.

Second, Reps. Jim Gerlach (R-PA) and Ron Kind (D-WI)

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2019-02-01T20:13:22+00:00July 12, 2012|

Business Groups United Against Payroll Tax Hike

In advance of next week’s vote to raise taxes on S corporations by $9 billion, a group of 38 business associations wrote Senate leadership strongly opposing the provision. Signed by S-Corp, the US Chamber, NFI and other leading groups, the letter details the numerous flaws in the provision. As reported in The Hill:

A coalition of business groups is pushing back against a Democratic proposal to pay for lower student loan rates with tax revenue. The U.S. Chamber of Commerce, along with roughly three dozen other groups, said ‘the plan could increase the payroll tax burden on business owners

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2019-02-01T20:21:28+00:00May 4, 2012|

Extensions for Main Street

Three cheers for Sen. Olympia Snowe (R-ME) and Sen. Mary Landrieu (D-LA) for fighting to move extensions of expired tax provisions benefiting Main Street businesses! Senators Snowe and Landrieu introduced the Small Business Tax Extenders Act of 2012 (S. 2050) this week to extend through 2012 those tax provisions benefiting Main Street businesses that were allowed to expire last year – including, an S-CORP priority, built-in gains (BIG) relief. Other provisions include extensions of the:

  • Temporary 100 percent exclusion of gains on certain small business stock;
  • 5-year carryback of general business credits of eligible small businesses;
  • AMT rules for general business credits of

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2019-02-01T20:21:28+00:00February 3, 2012|