Capitalize Financial
No Result
View All Result
Sunday, June 22, 2025
  • Home
  • Business
  • Economy
  • World
  • Markets
  • Tech
  • Real Estate
Capitalize Financial
  • Home
  • Business
  • Economy
  • World
  • Markets
  • Tech
  • Real Estate
No Result
View All Result
Capitalize Financial
No Result
View All Result
Home Sports

Less than 3% of U.S. small businesses could face tax hikes under Biden plan -White House

in Sports
Less than 3% of U.S. small businesses could face tax hikes under Biden plan -White House

Less than 3% of the roughly 30 million small-business owners in the United States could face tax increases under President Joe Biden’s jobs and infrastructure plan, according to a new analysis by the White House on Friday.

The White House has been seeking to leverage the support and political popularity of small-business owners in its fight to raise the corporate tax rate from 21% to 28% on large corporations such as Walmart Inc and Amazon.com Inc  The move has faced stiff opposition from large national trade groups like the U.S. Chamber of Commerce and the Business Roundtable.

The proposed increase in the corporate tax rate to 28% would not affect any small business that file taxes as a “passthrough entity” such as a limited liability corporation, said a senior administration official. Nearly all small businesses fall in that category, the official said.

The proposed increase in the top income tax bracket by 2.6 percentage points for single earners who earn over $452,700 annually and married couples above $509,300 per year – “would affect less than 3 percent of passthrough business owners,” the official said.

Most small businesses are passthrough businesses like limited-liability organizations and S-corporations that do not pay a corporate tax. Instead, the owners report business income and pay the tax on their personal tax returns.

“There has been a false line of attack circulating that the president’s tax plan represents some kind of significant wide-ranging tax increases on small business owners and that’s just simply untrue,” the official said.

Continue…

No Result
View All Result

Subscribe Us

By clicking submit, I authorize Capitalize Financial and its affiliated companies to: (1) use, sell, and share my information for marketing purposes, including cross-context behavioral advertising, as described in our Terms of Service and Privacy Policy, (2) supplement the information that I provide with additional information lawfully obtained from other sources, like demographic data from public sources, interests inferred from web page views, or other data relevant to what might interest me, like past purchase or location data, (3) contact me or enable others to contact me by email with offers for goods and services from any category at the email address provided, and (4) retain my information while I am engaging with marketing messages that I receive and for a reasonable amount of time thereafter. I understand I can opt out at any time through an email that I receive, or by clicking here
  • Trending
  • Comments
  • Latest

Gas Prices Today, October 22, 2022: Check the cheapest Gas Stations Today

Capital One Savings Account Rates for November 2022

These are the 10 housing markets across the US where home sellers are sitting pretty

10 Best Finance Podcasts for 2023

These are the 10 housing markets across the US where home sellers are sitting pretty

Embrace Technology And Stop Playing “Guess Who” With Your Customers

10 Best Finance Podcasts for 2023

NASA’s Webb Telescope Confirms First Exoplanet

Recent News

These are the 10 housing markets across the US where home sellers are sitting pretty

Embrace Technology And Stop Playing “Guess Who” With Your Customers

Categories

  • Business
  • Cryptocurrency
  • Economy
  • entertainment
  • finance
  • health
  • Markets
  • Music
  • Opinion
  • Politics
  • Real Estate
  • Science
  • Sports
  • Tech
  • World

Site Navigation

  • Contact Us
  • Privacy Policy
  • Terms Of Service
  • Unsubscribe
  • Privacy Choices

© 2025 capitalize Financial All Rights Reserved

No Result
View All Result
  • Advertisement
  • Contact Us
  • World
  • Economy
  • Business
  • Opinion
  • Markets
  • Tech
  • Real Estate

© 2025 capitalize Financial All Rights Reserved

Skip to content
Open toolbar Accessibility Tools

Accessibility Tools

  • Increase TextIncrease Text
  • Decrease TextDecrease Text
  • GrayscaleGrayscale
  • High ContrastHigh Contrast
  • Negative ContrastNegative Contrast
  • Light BackgroundLight Background
  • Links UnderlineLinks Underline
  • Readable FontReadable Font
  • Reset Reset