tax reform - The S Corporation Association

Budget & Tax Policy Outlook

The agreement earlier this month between Senators Reid and McConnell reopened the government for a few months, but it failed to resolve any of the issues that precipitated the shutdown in the first place.B Thereb s still no consensus on spending levels or tax policy beyond the end of the year.B Key dates in the agreement are:

December 13^th — Target for budget conferees to agree to a uniform budget
January 15^th — Current government funding resolution (CR) expires
February 7^th — Debt limit reached again

At this point, agreeing to a budget resolution would be a big deal.B Not only could …

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admin2019-02-01T20:19:44+00:00October 31, 2013|

Forbes on Pass Through Businesses

Marty Sullivan always writes interesting and provocative pieces on tax policy, so when we saw his recent piece in Forbes on tax reform Should Small Business Have Veto Power Over Corporate Tax Reform, we read it eagerly.

It’s provocative, alright, but we do have a couple observations.

Marty argues that pass through business advocates “willfully omit the existence of the corporate double tax from their spin and howl” regarding tax reform. Really?

We don’t howl, and we don’t ignore the existence of the double corporate tax. It’s a central part of our message on how to build a foundation for good tax …

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admin2019-02-01T20:08:23+00:00October 16, 2013|

The Importance of Pass Throughs

Put on your “must read” list a new paper from our friends at the Tax Foundation highlighting the importance of pass-through businesses to jobs and employment. It’s the best written and most comprehensive summary of the issue we’ve seen to date. Here’s how it starts:

Support for lowering the corporate tax rate – now the highest in the OECD – has been expressed by both Democrats and Republicans in order to improve the competitiveness of American businesses. However, they differ in their plans for the individual tax code. While Republicans have proposed lowering the top individual rate from 39.6 percent to …

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admin2019-02-01T20:08:23+00:00September 10, 2013|

S-Corp Study in the News

Since its release yesterday, the effective tax rate study put out by S-Corp and the National Federation for Independent Business has been getting traction both on the Hill and in the media. The study shows that S Corporations pay the highest effective rates of any business type, and its results come at a critical time for tax reform.

Following the release, the Ways and Means Committee issued a statement:

The study adds to the growing momentum for tax reform expressed by Democrats and Republicans alike who have called for fixing the broken tax code for job creators of all sizes. …

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admin2019-02-01T20:08:23+00:00August 8, 2013|

Study Shows S Corps Pay Their Fair Share… And Then Some

Today, the National Federation of Independent Business and the S Corporation Association released a new study showing that S corporations pay the highest effective rates of any business type.

The study, authored by Quantria Strategies, LLC, compares the tax burden different business entities will shoulder in 2013 and finds that S corporations will pay the highest average effective tax rate (31.6 percent of their income), followed by partnerships (29.4 percent), C corporations (17.8 percent) and Sole Proprietorships (15.1 percent).

The results of this study come at a critical time for tax reform. Ways and Means Chairman Dave Camp and Finance Committee …

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admin2019-02-01T20:08:24+00:00August 7, 2013|