2013 Legislative Agenda : Getting Things Done

The estate tax saw a permanent extension of the 2010 tax law on portability and unification, with a $5 million exemption indexed for inflation (now $5.12 million) and a 40 percent top rate. A one-year extension was also made on the 50 percent bonus depreciation.

Lyons points out that Congress had flirted with looking at corporate tax reform and lowering the corporate rate, a move Obama supports. Still, whether corporate and individual reform is attacked as either a package or separately, action needs to be taken on both fronts. Many printers are pass-through entities and S corporations, paying at the individual level—so both individual and corporate conversations are of great interest.