Despite strong pressure to find ways to pay for a new tax cut, The ESOP Association and its partners successfully fight to keep ESOP tax benefits intact.
The ESOP Association
ESOP Association Resources
Jun. 06
After a concerted effort, Congress and the Administration are persuaded to improve the 1996 Subchapter S ESOP Law, and beginning in 1998 it becomes allowable for Subchapter S Corporations to sponsor an ESOP. Previously, S-corporations could not sponsor ESOPs because qualified retirement plans could not own stock in the sponsoring company.