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Take CI’s State of the Industry Survey
It only takes a minute! Help CI take the industry's pulse and participate in research for our annual State of the Industry Report to come in 2015.
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Electrosonic Named 2014 Integrator of the Year
Celebrating its 50th anniversary in 2014, Electrosonic's leadership has its eyes on ensuring the firm lasts at least another half-century.
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Crisis Averted: How 2 Firms Came Back from the Brink of Disaster
SVT and Altel Systems share their tales of tumble and turnaround to help those who may face the same problems prepare for the worst.
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Interactive Video Wall Promotes Recovery at Delaware Children’s Hospital
Kinesis Studio installs gesture-based activity wall for duPont Hospital for Children that gives young patients interactive landscape during recovery.
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Flashback Friday: Advanced AV Assists Ryan Seacrest Foundation
For this week's edition of Flashback Friday, go inside the first broadcast center of its kind inside Children's Hospital of Philadelphia. Seacrest opens the 8th studio today at Children's Hospital in Boston.
Congress Eyes Death Tax Repeal
Death Tax Repeal Act of 2013 would help inheritors of small businesses avoid paying an inheritance tax.

Article


Death Tax Repeal
July 03, 2013 | by Jason Knott

Congress is making another attempt to eliminate the so-called death tax that, due to the high tax liability, can force integrators and other small businesses to sell or close rather than have their children inherit the business.

This is probably relevant to the commercial integration industry in which more than a few companies are family owned.

Two bills - H.R. 2429 introduced by Representative Kevin Brady (R-Texas) and S. 1183 introduced by Senator John Thune (R-S.D.) - would call on the IRS to eliminate Inheritance Taxes and reduce Gift Taxes over a 10-year period.

Small businesses that often declare their business income as personal income are affected by the Inheritance Tax. The bill creates a scale for Gift Taxes between 18 percent for gifts under $10,000 to 35 percent for gifts more than $500,000.

The likelihood is low that the revenue-reducing bills, dubbed the “Death Tax Repeal Act of 2013,” will pass the Democrat-controlled Senate. The introduction of the bills was hailed by the National Association of Electrical Distributors (NAED). The group cites a study from the Congressional Budget Office that says repeal of the death tax would create 1.5 million new small business jobs and cut the nation’s unemployment rate by one percentage point.

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