Bruce P. Ely Quoted in Bloomberg BNA Regarding Increasing Use of Passthrough Entities

State and Local Tax (SALT) partner Bruce Ely was quoted in Bloomberg BNA Daily Tax Report regarding the fact that corporate income tax receipts have failed to recover from pre-2008 levels can be attributed to the rise of passthrough entities. 

"The most recent IRS statistics indicated that subchapter K entities earn more income and file far more returns than C corporations," said Ely. "Accordingly, although corporate income tax receipts have lagged since 2008, personal income tax receipts have grown as a result of businesses opting for passthrough treatment."

Read the complete Bloomberg BNA Daily Tax Report article, "Passthrough Entities Slow Corp. Income Receipts: Panelists," which first appeared in December 28, 2015. (Login Required)