Business Lifesavers
Some elected officials have proposed legislation to benefit businesses
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"A cash infusion, such as this, can help companies of all sizes meet payroll, retain jobs and in some cases, keep doors open," Riccio explained. "It really gives a chance to companies to roll back to a time when they were likely profitable."
In the spring, the American Recovery and Reinvestment Act increased the carryback period to five years, but only for businesses with average gross receipts of $15 million or less. In its current form, the legislation will allow small businesses with large losses in 2008 to benefit from these losses now instead of on future tax returns. This latest measure would apply to all businesses.
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- Companies:
- Printing Industries of America, Inc.
- People:
- Julie Riccio
- Obama
E
Melissa Busch
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