EY Study Shows Why Pass-Through Deduction Should Be Broad, Permanent
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Pass-Through Parity Briefing
On July 31, 2018, the Parity for Main Street Employers and S Corporation Association participated in a Hill briefing highlighting new work for Ernst & Young on the challenge of establishing parity for pass-through taxation. Read more by clicking here. …
PMSE Comment Letter on New York State SALT Fix
The Parity for Main Street Employers coalition--representing more than one hundred national business groups and millions of Main Street employers--strongly supports efforts across the states to restore the ability of employers organized as pass-through businesses to deduct their State and…
Main Street Employers on Tax Overhaul
The Parity for Main Street Employers (PMSE) coalition released a new survey highlighting the pass-through business community’s initial reaction to the tax Cuts and Jobs Act (TCJA). Early results indicate that the tax relief promised to non-corporate employers is in…
Business Community Letter on Aggregation under 199A
As the Treasury Department and Internal Revenue Service drafts rules necessary to implement HR 1, the undersigned organizations request that you use your regulatory authority to adopt a reasonable method of calculating the new 20 percent pass-through deduction to ensure…
Main Street Employers Group Launches Tax Reform Implementation Effort
Today the Parity for Main Street Employers (PMSE) coalition, comprised of trade groups representing American Main Street businesses, named Chris Smith as its new Executive Director. Smith is a Washington public affairs veteran and a former Chief of Staff for…
Main Street Businesses Deserve Tax Parity With American Corporations
Now that historic tax reform is done, it’s time for Congress, the Treasury Department and the IRS to work through the details of implementing the new law. For Main Street employers, the stakes couldn’t be higher. As the dust settles,…
Can Main Street Businesses Just Convert? No!
If “corporate-only” advocates have their way and the corporate tax rate is reduced, should pass-through businesses just switch to C status to access the lower rates? Would that shift improve the tax code and how we treat closely-held businesses? The…
WSJ Op-Ed: Family Businesses Deserve a Tax Break
The U.S. is unique in its prevalence of small and family-owned businesses. S corporations and other pass-throughs employ the majority of workers and are the foundation of thousands of local economies, ensuring that the benefits of economic growth aren’t concentrated…
Pass-through Businesses: Data and Policy
Key Findings The majority of companies in the United States are pass-through businesses. These businesses are not subject to the corporate income tax; instead, their income is reported on their owners’ tax returns and subject to the individual income tax.…