Uh Oh

[veritas]

"The U.S. corporate tax code's relatively high rates and other features have encouraged many entrepreneurs to organize new businesses as non-taxable small businesses, particularly over the last 20 years or so. Owners pay tax on those companies' earnings through their individual returns.

Some tax experts say the U.S. might have to look to those small businesses to give up some tax breaks, too, as a way of spreading the cost of corporate reform."

http://online.wsj.com/article/SB10001424052748704637704576082322205216828.html?mod=WSJ_hp_LEFTWhatsNewsCollection

[BHoffman]

It's OK. There's a Plan.

[ChEAr$]

"The U.S. corporate tax code's relatively high rates and other features have encouraged many entrepreneurs to organize new businesses as non-taxable small businesses, particularly over the last 20 years or so. Owners pay tax on those companies' earnings through their individual returns.

Some tax experts say the U.S. might have to look to those small businesses to give up some tax breaks, too, as a way of spreading the cost of corporate reform."


http://online.wsj.com/article/SB1000...NewsCollection

And what, pray tell, is a non taxable small business?

[veritas]

Well in Oregon

it was explained as those evil corporations that only paid a $10 minimum tax.

Never mind the fact that over half of them are S Corporations or partnerships and many C Corporations had no earnings.

So of course the voters here fixed that crazy loophole.