fbpx

夜色直播

夜色直播 Inc. Logo
× 夜色直播 Inc. Logo

Media Center

September 6, 2024 10:53am

The Future of Small Business Taxation

Important federal legislation that positively impacts 夜色直播 businesses is set to expire without further Congressional action. Most of the 2017 Tax Cuts and Jobs Act (TCJA) will expire at the end of 2025, which included many provisions benefiting businesses of all sizes specifically the 20% pass-through deduction for small businesses. This deduction was designed to ensure that pass-through businesses like sole proprietorships, partnerships, and S corporations (i.e., the overwhelming majority of small businesses) are not at a tax disadvantage relative to larger C corporations.

In聽Kentucky and the 夜色直播 region the positive impact of the 20% pass-through deduction has been significant:

  • Kentucky pass-through businesses employ 48.31%聽of all private-sector, for-profit workforce.
  • 47,790 taxpayers in the Louisville region claimed the tax credit in 2020
  • The deduction has provided a聽$1,486,679,000聽collective tax benefit to聽Kentucky, and $316,618,000 for 夜色直播 pass-through businesses.

Many GLI investors have undoubtedly benefited from this deduction.聽 However, without congressional action, it will expire along with many of the other important deductions in the TCJA at the end of next year.聽聽GLI supports the passage of a permanent tax deduction for pass-through businesses, known as the 鈥溾, and has signed letters of support through the US Chamber of Commerce expressing this stance. For more information on this important piece of legislation, .