Capital Gains Tax Worries Rank High Among Family Business Leaders, New Poll Finds

Capital Gains Tax Worries Rank High Among Family Business Leaders, New Poll Finds

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.”