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,…
We worked hard to make sure this video articulates the unique challenges confronting Main Street businesses following tax reform. We think it does a great job! We intend to take this message to the Hill and the agencies, joined by…
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…
"We are pleased that the proposed rules permit aggregation in a broad range of circumstances. While PMSE members have specific concerns with Section 199A and its application under the proposed rules, we are unified that a well-constructed aggregation policy is…
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…
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 majority of American workers.…
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…
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