Federal Tax Reform
As Congress seeks to overhaul the federal tax code, the Bowling Proprietors’ Association of America (BPAA) is committed to advocating for comprehensive and permanent reforms that ensure the future prosperity for the bowling industry. BPAA supports changes to our tax code that provide certainty to bowling proprietors, encourage economic growth, and spur job creation in our communities. To that end, BPAA’s interests focus on corporate and individual tax rates, estate taxes, depreciation and capital recovery rules, and interest deductibility.
Lower Tax Rates
BPAA supports lowering the corporate and individual tax rates. The bowling industry is diverse and made up of various business models including C corporations taxed at a corporate rate and pass-through entities (S corporations, LLCs, partnerships, etc.) taxed at an individual rate. By lowering the corporate and individual tax rates, bowling proprietors will have new opportunities to grow, innovate, and invest in their businesses and communities.
Repeal the Estate Tax
BPAA supports repealing the estate tax. Many bowling centers are family-owned and face the burdens of the estate tax if they seek to operate their business from one generation to the next. Repeal of the estate tax would remove costly barriers to bowling proprietors and allow them to better plan and invest for the future.
BPAA supports smart, comprehensive reform to the federal tax code and encourages Congress to engage with the bowling industry to fully understand the impacts of proposed tradeoffs. For example, Members of Congress have proposed stimulating the economy by allowing for 100% capital expensing, but it would be paired with the elimination or reduction of the corporate interest deduction. This tradeoff will harm many bowling proprietors, especially our small centers, who rely on debt financing. Interest deductibility has been critical for many bowling proprietors’ ability to expand their operations and workforce and invest in new technology.
2018 April Tax Overview
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