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Immediate Implications of Recent Supreme Court Ruling on Moore v. United States - Pat Soldano
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Stand up and be heard! Contact your lawmakers in Congress to advocate for positive change.

Recently, the Supreme Court ruled seven to two in favor of the constitutionality of the Mandatory Repatriation Tax (MRT) as a valid exercise of Congress’s power to tax shareholders on the undistributed income of corporations in Moore v. United States.

 

Potential implications stemming from this case are whether Congress can use the Moore case to enact broad wealth taxes and what the negative ramifications might be for family businesses and successful individuals from a tax on unrealized gains.

 

The decision leaves open the possibility for a future wealth tax, which is often proposed as a tax on assets rather than on income, but overall, our legal experts do not see the ruling having a significant immediate effect on family businesses, or on estate taxes. The opinion is very narrowly focused on the repatriation tax at issue in the case.

In the long run, however, some language in dissenting opinions may help discourage future wealth taxes and lay the foundation for legal changes to any wealth taxes that might be enacted. The ruling also may have a potential deterrence effect and/or signal that there appears to be a segment of the Court that would seriously question the constitutionality of any future tax on unrealized gains.

We will keep you updated as new information on this case becomes available.

We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…

As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a member.

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 Family Enterprise USA 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. The issues we fight for or against with Congress in Washington DC include high income tax rates , possible elimination of valuation discounts, increase in capital gains tax , enactment of a wealth tax , and the continued burden of the gift tax , estate tax and generation skipping tax .


Family Enterprise USA promotes generationally owned family business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress in Washington DC.  Since 2007, Family Enterprise USA has represented and celebrated all sizes, professions and industries of family-owned enterprises and multi-generational employers. It is a bi-partisan 501.c3 organization. Family foundations can donate.


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The post Immediate Implications of Recent Supreme Court Ruling on Moore v. United States appeared first on Family Enterprise USA .

Family Enterprise USA is the organization that represents all family businesses on a national level in DC; it is not unique to any industry. Family Enterprise USA is different from other organizations because it represents and advocates for the families of family businesses and the issues, they face running their businesses every day. Our sole mission and purpose is to promote family businesses and their job growth in America. We also support the work of Family Business Centers across the country. We hope your family will choose to be a member of Family Enterprise USA.