How Tax Reform Might Affect Small CorporationsScott Shane
In his recent State of the Union address, President Barack Obama targeted the corporate tax system as something he'd like to reform. He suggested the approach recommended by many tax experts: Cut high statutory rates in return for eliminating many loopholes and deductions. Given high federal deficits, the President indicated that corporate tax reform would have to be revenue-neutral, shifting the tax burden from those paying a lot to those paying a little, while not lowering the total amount of tax paid by corporations.
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