tax relief - The S Corporation Association

Happy 50th, S Corps!

Today marks the 50^th birthday of the S corporation! As you can imagine, here at the S Corporation Association we’ve got the cake and candles ready.

Perhaps more importantly, at a time of economic and political uncertainty, the story of the S corporation and its role in making the American economy more diverse and flexible is worth reviewing.

The S corporation was born at a time when the economy was slowing, Americans were losing their jobs, and an unpopular Republican President was being accused of practicing “trickle-down economics” by a Democratic Congress.

President Eisenhower embraced the S corporation — originally an idea proposed …

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admin2019-02-06T18:06:07+00:00September 2, 2008|

S-Corp Supports Small Business Tax Modernization Act

More good news for S Corps! Congresswoman Nydia VelC!zquez, Chairwoman of the House Small Business Committee, introduced legislation last week “the Small Business Tax Modernization Act of 2008” that includes many provisions with the potential to benefit the S corporation community.

Of particular interest to S corporations, the bill would allow nonresident aliens to invest in S corporations. This restriction, developed half a century ago, prohibits S corporations from partnering with investors in other countries. Lifting this restriction would enhance an S corporation’s ability to access new sources of capital, which will in turn help generate new investment and job creation …

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admin2019-02-06T18:06:07+00:00July 29, 2008|

Broad Business Coalition Supports BIG Relief

There are increased reports in the media about a potential stimulus package to be considered when Congress returns in September (here and here). If Congress does consider another stimulus package and wants to target help at the small business community, it should act to increase the ability of S corporations to access the capital they already own.

A broad and powerful coalition of 14 trade associations is asking Congress to do just that. A letter sent …

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admin2019-02-06T18:06:07+00:00July 23, 2008|

Stimulus Getting More Ink

Several papers are reporting what we have been hearing for the past week – a possible second economic stimulus package is in the early stages of discussion. As the Wall Street Journal reported:

Senate Majority Leader Harry Reid (D., Nev.) said he had spoken to the Democratic leadership in the House of Representatives about a second economic-stimulus package, in another attempt to bring the country out of what increasingly seems to be a severe economic downturn.

If Congress takes up another stimulus package, it will likely be in September, not July, and it should include …

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admin2019-02-06T18:06:08+00:00July 11, 2008|

S Corp Testifies in the House!

This week the House Committee on Small Business held a hearing to consider reforms that would promote equality and growth for S corporations. Rick Klahsen, a member of the S Corporation Association’s Board of Advisors testified on our behalf.

Rick’s testimony reviewed the dramatic growth of S corporations over the last half-century and identified critical reforms Congress should consider to improve the S corporation rules and level the playing field …

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admin2019-02-06T18:06:08+00:00June 20, 2008|