Majority of Family-owned Business Executives Say Capital Gains Taxes Impacting Business
-- Though capital gains tax rates remain fixed today, most family-owned business executives still worry about how they will affect their businesses, according to a new poll by Family Enterprise USA.
The poll, conducted last month with cross section of family-owned business leaders, asked, "Are You Concerned About Capital Gains Tax Affecting Your Business?". The results from the survey showed 61% of family business answered “Yes,” they are concerned. The poll also found 19% said “No,” they were not concerned, while 20% were “Unsure” if capital gains tax rates affected them or not. The poll was conducted among 105 family-owned businesses across the U.S.
Progress Scale of Rates
The recently passed tax bill, H.R. 1, fixed long-term capital Gains tax rates at a progressive scale of between zero and 20%. For single tax filers, any capital gain under $48,350 has no tax levied, while 15% is levied against gains between $48,351 and $533,400, and a 20% rate is levied against any gains over $533,400.
The poll results, one of several conducted by Family Enterprise USA throughout the year, helps family businesses raise awareness for damaging economic issues and policies, according to Pat Soldano, President of Family Enterprise USA and of Policy and Taxation Group, two organizations advocating on behalf of family-owned businesses and successful families throughout the U.S.
“It’s important Congress understands the many tax and economic policies that hurt, often unintentionally, family businesses of all sizes,” Soldano said about the survey. “This poll, and others we conduct during the year, helps gauge the concerns family businesses have over policies and helps us let Congress know the impact they have on their economic growth and investment.”
About the company: About Family Enterprise USA: Family Enterprise USA promotes generationally owned family business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress in Washington DC. Since 2007, Family Enterprise USA has represented and celebrated all sizes, professions, and industries of family-owned enterprises and multi-generational employers. It is a bipartisan 501.c3 organization. About Policy and Taxation Group: Policy and Taxation Group (PATG) is the Voice of Family Offices and Successful Individuals in Washington, D.C., focused exclusively on the Tax and Economic Issues that impact them. Since 1995, PATG has been the leading advocacy group working to reduce and eliminate estate, gift, and GST taxes while blocking increased income and capital gains taxes, the creation of a wealth tax, and other hostile tax policies that punish hard work and success. PATG is a 501(c)(4) organization comprised of families directly or indirectly impacted by these harmful taxes and regulations.
Contact Info:
Name: Bob Chew
Email: Send Email
Organization: Family Enterprise USA and Policy and Taxation Group
Address: 712 H Street NE Suite 1330, Washington DC, United States
Phone: 202-240-2606
Website: https://familyenterpriseusa.com
Video URL: https://www.youtube.com/watch?v=B6uMYUwip1w
Release ID: 89171432
Should you identify any discrepancies, concerns, or inaccuracies in the content provided in this press release or require assistance with a press release takedown, we strongly urge you to notify us promptly by contacting error@releasecontact.com (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our responsive team is committed to addressing your concerns within 8 hours by taking necessary actions to resolve identified issues diligently or guiding you through the necessary steps for removal. Our dedication lies in providing accurate and reliable information.
