Denver Metro Chamber Of Commerce: The End Of The 2021 Legislative Session

Press release from Denver Metro Chamber of Commerce:

Marley Reifert

June 11, 2021

Workers’ Rights Act Legislation Meets Its End

A bill we opposed and have been updating you on most of this session, Senate Bill 176, “Protecting Opportunities and Workers’ Rights Act,” was postponed indefinitely in the House Judiciary Committee on Monday.

Senate Bill 176 State Legislation Leads to Federal Tax Break for Small Businesses House Bill 1327

The 2017 federal “Tax Cuts and Jobs Act” placed a cap of $10,000 on the amount of state and local taxes that individuals could deduct on their federal taxes. This limitation did not apply to C corporations. Consequently, businesses organized as pass-through entities, like S corporations and partnerships, pay increased taxes on business profits compared to C corporations. This is because pass-through entities pay taxes on business profits at the individual (partner or shareholder) level.

The 2021 Session Has Ended!

This press release was produced by the Denver Metro Chamber of Commerce. The views expressed here are the author’s own.