NASE Blogs

Lawmakers Introduce Legislation that Supports Small Business Philanthropic Giving

Feb 01, 2012

Representatives Schock (R-Ill.) and Schilling (R-Ill.) are touting legislation that would allow small businesses (C corporations are not eligible) to receive the same tax deduction given to larger corporation for the donation of extra inventory to charity and nonprofits.  

Considering that the self-employed and small businesses (499 or less employees) make up 99% of the U.S. business economy, it is yet another glaring example of continued disadvantages faced by the self-employed and small business owners. We applaud Representatives Schock and Schilling in their efforts. 

Full text of the legislation can be found here.