With all that has been happening, both within the US and internationally, Tax Reform legislation seems to have faded somewhat into the background. While it is still alive and well, the prospects for passage of major tax reform in 2017 have dimmed a bit. Most analysts are predicting passage of a modest tax reform measure in 2017, without the dramatic changes the Trump administration has proposed. (more…)
The Congressional Budget Office (CBO) updated its report comparing the corporate income tax rates of the U.S. and other G20 countries.
The report examines not only the statutory top rates, of which the U.S. has the highest, but also provides information on the average and effective corporate tax rates, including insight as to how certain corporate decision-making is influenced by each. (more…)
Tech community, take note: new legislation may be changing the way employee stock options are taxed. In an effort to strengthen growing companies and promote stronger employee ownership, Senators Dean Heller (R-NV) and Mark Warner (D-VA) recently introduced The Empowering Employees through Stock Ownership Act (EESO), which aims to give employees greater flexibility when handling the tax liabilities associated with their stock options. (more…)
As we reach the end of 2013, revisiting the Qualified Small Business Stock (QSBS) provisions under both federal and California tax law should be a top priority. For federal purposes, a significantly advantageous provision is set to expire on December 31. Earlier in 2013 passage of the American Taxpayer Relief Act of 2012 extended the favorable gain exclusion provisions for QSBS retroactively through the end of 2013 for regular and alternative minimum tax purposes.