Fintech Firms Worry Trump Tax Plan Will Leave Them Behind
Law360, New York (January 9, 2017, 5:05 PM EST) -- Plans laid out by President-elect Donald Trump and the Republican-led Congress to advance corporate-only tax reform without simultaneously tackling individual income taxes has financial-technology startups and other entrepreneurs worried about staying competitive against larger corporations in 2017.
Industry experts say the incoming administration's expressed inclination toward business-only tax reforms for large C corporations doesn't account for many fintech startups, which are generally structured as pass-through entities where the individual owners are taxed on profits at the personal level.
As an emerging industry, fintech covers a wide variety of technological innovations among both startups and established banks, brokerages and other institutions. What...
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