Pass-through businesses, which account for more than 80% of U.S. businesses, are at a competitive disadvantage because they pay a higher marginal tax rate on business income than their C corporation competitors. Meaningful tax reform must equalize those tax rates, says an op-ed piece published in Fortune magazine and written by Stephen Chipman, CEO of Grant Thornton LLP, and Doreen Griffith, Grant Thornton national managing partner of Tax Services.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
