Treasury Department Considering Taxing Small Businesses as Corporations

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The Treasury Department is considering a $10 million income cap for small businesses, leading some to believe it could require companies earning more than that amount to pay corporate taxes. The move could also affect larger flow-through entities such as partnerships, S corporations and limited liability companies, whose owners pay income tax but not corporate taxes on the companies’ earnings. "The administration has made it clear that it’s interested in drawing an arbitrary line and taxing firms above it," said Brian Reardon, a lobbyist for the S Corporation Association of America. Bloomberg

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