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If you have any questions or concerns, please use the contact information provided in this email as this inbox is not monitored for replies.
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High Personal Tax Levels Top Concerns of America’s Largest Private Employer, Family Businesses, New Study Finds
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New Data from Family Enterprise USA Annual Family Business Survey 2023 Show Taxes, Both Personal and Business, Are Biggest Worries
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Sky-high income and business taxes are the top issues America’s largest private employer, family businesses, point to when looking at this year’s economic challenges, a new study finds.
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This, according to a Family Enterprise USA Family Business Survey 2023, burdensome taxes top a list of worries family business of all sizes face today. The next greatest worry is finding labor, and then training them to do a job effectively.
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The survey assessed a cross section of America’s multi-generational family-owned industries, contributing $7.7 trillion annually to the U.S. gross domestic product. Family businesses account for 83.3 million jobs, or 59 percent of the country’s private workforce, according to research.
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Taxes and tax policies were found as the biggest challenges, with 50 percent of respondents saying high personal income taxes were the number one concern, up from 45 percent a year ago, a 10 percent jump.
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Some 19 percent of the respondents said the “most important” tax issue was to reduce personal income taxes, while 18 percent said reducing ... (continue reading)
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Upcoming Events
- April 19 - 21: Transitions Spring, St Petersburg, FL
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April 27-28: Prairie Family Business Center Annual Gala Event, Sioux Falls, SD
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May 3: Family Business Association Annual meeting, Sacramento, CA
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May 10-12: Family Office Club Event, New York, NY
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May 10: High Center Directors, virtual
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Sign-Up For New Podcast: "Voice of Family Business on Capitol Hill" with host Pat Soldano.
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Join our growing family of podcast listeners by clicking on the links below to our new podcast, "The Voice of Family Business on Capitol," where each episode delves into the major issues facing family businesses and family business centers today. Subscribe by clicking on these links, or wherever you get your podcasts.
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We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…
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As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a supporter.
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The need for fact-based reporting of issues important to multi generational businesses and protecting a lifetime of savings has never been greater. Now more than ever, multi generational businesses and family businesses are under fire. That’s why Policy and Taxation Group is passionately working to increase the awareness of issues important to generationally-owned family businesses built on hard work, while continuing to strengthen our presence on Capitol Hill.
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About Policy and Taxation Group
Policy and Taxation Group is your voice in Washington on economic freedom. We advocate for policies that allow American families to fully enjoy the economic liberties and benefits of a robust free market unique to our nation. For over 25 years, we have been the loudest voice in the nation’s capital on eliminating the death tax. This ill-conceived tax has a destructive impact on families, family businesses, job creation, and the national economy.
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Have questions or would like more information about becoming a Supporter or donating? Please contact John Marino at [email protected].
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