Publicly traded partnerships don’t pay corporate income taxes
Susan Phillips tells stories about the consequences of political decisions on people’s every day lives. She has worked as a reporter for WHYY since 2004. Susan’s coverage of the 2008 Presidential election resulted in a story on the front page of the New York Times.
vibrators Both the House and Senate versions cut the tax rate for owners of oil and gas companies that operate as publicly traded partnerships. These companies, such as Shell and Energy Transfer Partners operating in Pennsylvania, span many aspects of the industry, from drillers to pipeline operators to gas processors and oil refiners.Publicly traded partnerships don’t pay corporate income taxes dildos, so lawmakers have to decide how to tax the income they pass through to their owners.Right now, those owners pay a 39.6 percent income tax rate. The House bill drops the rate to 25 percent, and the Senate bill to 29.65 percent.The Senate’s proposal is raising a few eyebrows.It originally excluded these oil and gas companies from taking full advantage of the reduced tax rate, said Steve Rosenthal, a senior fellow at the Tax Policy Center, a nonpartisan Washington based think tank.The measure placed restrictions on the amount of income that qualifies for the lesser tax dildos, based on the size of a company’s workforce and the wages it pays.Those restrictions didn’t survive. vibrators
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