Today, on behalf of over 40 national trade associations, the Parity for Main Street Employers coalition submitted a comment letter to Treasury and the IRS on the need to permit pass-throughs to aggregate business entities when claiming the new 20…
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…
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,…
Focus on Need for Tax Parity for Pass-Through Businesses Parity for Main Street Employers 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.…
Today an op-ed authored by PMSE Executive Director Chris Smith appeared in The Hill entitled: “Main Street Businesses Deserve Tax Parity with American Corporations,” making the case that implementation of the newly revised tax code should support Main Street employers, and not…
Rules around key deduction for many small firms has high earners, experts puzzled; ‘As clear as mud’ The Wall Street Journal By Ruth Simon The owner of a successful chain of tanning salons should qualify for a new tax deduction,…
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…
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…
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.…
Dear Chairmen and Ranking Members: As Congress debates tax reform to make American businesses more competitive, the undersigned organizations representing employers organized as S corporations, partnerships and sole proprietorships offer the following three principles to help guide your efforts...…