Revised Definition of Small Business Could Mean Tax Shift

Revised Definition of Small Business Could Mean Tax Shift

There is general agreement that the existing definition of a small business is overly broad. It encompasses any entity that generates flow-through income for its owners -- a category that can include someone who sells knick-knacks on eBay Inc. as well as multibillion-dollar companies such as accounting and consulting giant Ernst & Young LLP. Photo: Stephen Yang/Bloomberg