
Everyone involved with family businesses knows that those businesses are important contributors to the U.S. economy. They provide jobs, pay taxes, take care of their communities and are drivers of innovation not only in the United States but also worldwide. Neither the federal nor state governments track family business status in their economic data. The fact that the government doesn’t collect any data on family businesses in a separate category is troubling for many reasons, not the least of which are the estate tax and pass-through income tax implications of current tax policy for business-owning families.
Joseph H. Astrachan and Melissa Carey Shanker laid the framework for establishing the ability to assess the impact of family busine...
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