New Interest Deduction for Electing Small-Business Trusts

Tax Notes
09.17.07
Marc Gerson discusses H.R. 2206 recently signed into law by President Bush.   H.R. 2206 included the Small Business and Work Opportunity Act of 2007, which included a package of small-business tax incentives aimed at providing relief to taxpayers negatively affected by an increase in the federal minimum wage, which was also included in the legislation. The package included a series of subchapter S corporation reform provisions, including one provision of particular importance to electing small-business trusts (ESBTs) that finance the purchase of S corporation stock.
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TaxNotes.09.17.07
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