Co-ops Aren’t Just For Farmers
The recently enacted Tax Cuts and Jobs Act generally allows for a 20-percent deduction for qualified business income earned by a partnership, LLC, S Corporation or sole proprietorship. However, income from a specified service business is outside of this provision, leading providers in the fields of health, law, consulting, brokerage services, and even athletics to seek alternatives to the deduction. In recent articles published in the Los Angeles Daily Journal and San Diego’s Daily Transcript, CGS3 partner Phil Jelsma discusses the reasons why alternative business structures involving cooperatives have gotten significant interest and some of the requirements for creating a co-op in California.
Read the full article from the Los Angeles Daily Journal here or from the Daily Transcript here.