Congress is continuing its support for employee ownership in general and ESOPs in particular with the introduction of bipartisan legislation designed to simplify the process of establishing Employee Stock Ownership Plans (ESOPs) for S-Corps. The Promotion and Expansion of Private Employee Ownership Act aims to address the barriers that have historically hindered S-Corp companies from…
Employee ownership is a powerful force for financial well-being and Employee Stock Ownership Plans (ESOPs) benefit both business owners and employees. The US Federal government recognized these factors in the 2023 national budget by including support for provisions dedicated to spurring ESOPs and Congress has introduced bi-partisan measures to advance employee ownership. The drumbeat of…
In recent years, there has been a growing emphasis on promoting employee ownership in the United States. This focus has been championed by Congressional leaders and various states who recognize the numerous benefits that employee ownership can bring to businesses and their workforce. Earlier in 2023, the passage of the WORK and SECURE 2.0 Acts…
A new comprehensive tax reform proposal was introduced by House Ways and Means Committee Chairman Dave Camp on February 26th, 2014. Camp’s proposal would cut the tax rate for C corporations to 25% over a period of five years. It would also cut individual tax rates to two brackets (10% and 25%), but it would…