Ways and Means - The S Corporation Association

Pass-throughs are b�Silent Majorityb� in Tax Reform Debate

As Washington adjusts its focus towards the new Joint Committee on Deficit Reduction, many observers expect the same sort of partisan ideological gridlock that has seized much of the process to this point, but there are those that see a realistic path to a successful compromise by the “super” committee, and they see this scenario reached through some sort of revenue-neutral reform of the tax code. The top tax writers in Congress intend to move forward the tax reform debate this year, through the deficit reduction effort or separately, and have already begun calling corporate CEOs to the table to …

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admin2019-02-01T20:24:45+00:00August 9, 2011|

Chairman Camp Makes the Case for S Corps and Other Pass-Through Businesses

Wednesday’s meeting between House Republicans and the President failed to move the needle on deficit reduction, but it did give the top tax writer in the House an opportunity to deliver a message on tax reform. As Chairman Dave Camp (R-MI) stated after the meeting:

“Tax reform done the right way means more economic growth and more jobs. Any path forward for tax reform must be comprehensive to address both the individual and corporate rates. More than half of all business income is earned by pass through entities - most of which are small businesses. We cannot leave them out in …

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admin2019-02-01T20:48:05+00:00June 3, 2011|

Business Coalition Letter Opposes Administration’s Corporate-Only Plan

S-CORP and thirty other trade associations sent a letter to the congressional tax-writing committee leaders today stating their opposition to the Administration’s reported corporate-only tax reform plan. States the letter:

As organizations representing millions of closely-held employers across the country, we are writing to express our strong opposition to any tax reform plan that will negatively impact 95 percent of America’s businesses.

Every day, nearly 70 million Americans wake up and go to work at a firm organized as something other than a C corporation. These “flow-through” businesses, structured as S corporations, partnerships, LLCs, or sole proprietorships, contribute more to …

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admin2019-02-01T20:48:05+00:00May 11, 2011|

S-CORP Study in the News

As our Washington Wire readers know, S-CORP released a ground-breaking study on Tuesday by Bob Carroll and Gerald Prante from Ernst & Young. The study quantifies the economic footprint of flow-through businesses for jobs and investment as well measures the impact of corporate-only, revenue neutral tax reform would have on them. Employing more than half of the private workforce (69 million jobs), the study finds that flow-through businesses are essential to the U.S. economy. S corporations specifically employ one out of four private sector workers (31 million jobs).

The study also finds that the existence of flow-through businesses results in higher …

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admin2019-02-01T20:48:06+00:00April 14, 2011|

Camp Pushes Comprehensive Reform

The Wall Street Journal reports that Ways and Means Chairman Dave Camp wants to push tax reform that addresses both the corporate and individual tax codes. That’s good news for S corporations and the majority of employers out there. According to The Journal:

The chairman of the House Ways and Means Committee wants to cut the top U.S. tax rate to 25% for individuals and corporations, and cut or eliminate many popular deductions.

The odds of quick action appear slender. But the move, from Rep. Dave Camp (R., Mich.), is significant as a marker in what will likely be a multiyear debate …

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admin2019-02-01T20:48:06+00:00March 23, 2011|