New Study Highlights the Importance of Making the Tax Code Simpler and Fairer for All, Not Some, Job Creators
A new tax study released today by the National Federation of Independent Business (NFIB) and the S Corporation Association reinforces the need for tax reform that makes the tax code simpler and fairer. The study, authored by Quantria Strategies, provides a detailed look at the effect that the tax system has on businesses – in particular those organized as pass-throughs that pay their taxes as individuals – and whose tax rates can be affected not only by their income, but also by the way they choose to structure their business (partnership, LLC, S corporation).
The study adds to the growing momentum for tax reform expressed by Democrats and Republicans alike who have called for fixing the broken tax code for job creators of all sizes. Those calls are a stark contrast to the Administration’s most recent appeal to lower the corporate rate, while leaving the vast majority of the nation’s job creators – small businesses – struggling with high rates and a more complex tax code.