Vern Buchanan to focus on tax reform in next Congress
Republican U.S. Rep. Vern Buchanan said last week he planned to keep pushing for a bill that would even out the tax rates between taxes for small businesses and corporations in the next Congress. Many small businesses are formed as S-Corporations, which operate as pass-throughs for shareholders. Shareholders of these businesses pay no business taxes, and instead have their earnings taxed at their often-higher individual tax rate. “Let’s stop placing these small- and medium-sized businesses at a competitive disadvantage against…
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