Yesterday, the Parity for Main Street Employers coalition sent a letter to House tax writers raising serious concerns with their plan to provide temporary relief from the SALT deduction cap by permanently raising the top tax rate applied to pass-through…
The Parity for Main Street Employers coalition and the S Corporation Association will host a Hill lunch briefing at noon on October 24th in the Kennedy Caucus Room (SR-325). The briefing is open to Hill staff and tax professionals, and…
For Tax Day, Parity for Main Street Employers Executive Director Chris Smith’s has an opinion piece in The Hill addressing recent calls for tax increases and highlighting the introduction of The Main Street Tax Certainty Act of 2019 to make the 20 percent pass through deduction…
Today over a hundred business groups released a joint letter in support of the Main Street Tax Certainty Act of 2019. Sponsored by Representatives Jason Smith (MO), Henry Cuellar (TX) and Senator Steve Daines (MT), this bipartisan legislation would make permanent the 20-percent pass-through deduction enacted as part of…
Analysis Paves Way for Other States to Act The Parity for Main Street Employers coalition of national trade groups today released a new analysis by the Wisconsin-based law firm Meissner Tierney Fisher & Nichols highlighting the legal basis for state efforts to…
Chris Smith, PMSE Executive Director “A Section 199A deduction that applies broadly to Main Street Employers organized as passthroughs is essential to maintain parity with C corporations and the new 21-percent rate. While the final rules provide some additional clarity,…
Welcomes Guidance on Main Street Deduction – Suggests Improvements Today, the Parity for Main Street Employers coalition of national trade groups submitted comments to Treasury and the IRS in response to the notice of proposed rule-making on the qualified business income deduction…
The Parity for Main Street Employers coalition today wrote the Ways and Means Committee in support of making the 199A pass-through deduction permanent. The provision is part of the Committee’s “Tax Reform 2.0” effort being debated by the Committee. Making…
By Chris Smith “The Parity for Main Street Employers Coalition welcomes Treasury’s guidance applying the new 20% tax deduction to thousands of U.S. businesses organized as pass-throughs—the S-corps, sole proprietorships, and partnerships that comprise 95% of all businesses and who employ the…
Parity for Main Street Employers Today, PMSE released an analysis by EY of the Tax Cut and Jobs Act’s effect on the taxation of pass-through businesses, with a focus on S corporations. The EY study found that even for businesses…