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Republican tax plan could bring huge tax savings to millions of small business owners

September 26, 2017

Via: CNBC
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A Republican tax-cut plan due to be unveiled on Wednesday is expected to call for a new rate for “pass-through” businesses of about 25 percent, which would bring huge tax savings to millions of U.S. business owners, a lobbyist familiar with the negotiations said.

About 95 percent of American businesses are pass-throughs such as sole proprietorships, partnerships, and S-corporations, according to the Brookings Institution, a Washington think tank. The name comes from the profits and losses of such businesses that pass through directly to their owners, unlike public corporations.

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