Welcome to your July issue of the ESOP Report
This month we've packed the report with tons of articles and news about ESOPs that you won't want to miss!
The ESOP Association
ESOP Association Resources
Jul. 25
Senior Biden Administration Officials, Key Stakeholders Meet to Discuss Growing Worker-Owned Businesses and Promoting Worker Ownership Transitions
Washington, D.C. – Jim Bonham, President and CEO of The ESOP Association, today was a featured speaker and panelist at a convening on worker-owned businesses hosted by the White House National Economic Council.
Washington, D.C. – Jim Bonham, President and CEO of The ESOP Association, today was a featured speaker and panelist at a convening on worker-owned businesses hosted by the White House National Economic Council.
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Jul. 16
Each year we honor the individuals and companies who have pursued and achieved excellence. Those who are leading the charge and driving ESOPs and employee ownership to ever greater heights…The very best of us.
This is an opportunity to celebrate the best accomplishments within our community. It also gives us the chance to learn from one another, and discover new and innovative ideas that we can implement at our ESOPs.
Thank you to all our companies and individuals who were nominated for, and won, this year's National Awards.
This is an opportunity to celebrate the best accomplishments within our community. It also gives us the chance to learn from one another, and discover new and innovative ideas that we can implement at our ESOPs.
Thank you to all our companies and individuals who were nominated for, and won, this year's National Awards.
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Jul. 11
Urges Court to Consider Bowers + Kubota’s Appeal to Award Attorneys’ Fees After Company Was Vindicated in Overzealous, “Shoddy” Prosecution by Dept. of Labor
Washington, DC – The ESOP Association has filed an amicus brief with the Supreme Court of the United States, asking the Court to grant a writ of certiorari and consider Bowers + Kubota Consulting, Inc., et al. v. Julie A. Su, Acting Secretary of Labor.
Washington, DC – The ESOP Association has filed an amicus brief with the Supreme Court of the United States, asking the Court to grant a writ of certiorari and consider Bowers + Kubota Consulting, Inc., et al. v. Julie A. Su, Acting Secretary of Labor.
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Jul. 10
The House Committee on Appropriations recently released its report on proposed fiscal year 2025 funding for the Department of Labor, which included two very strong provisions affecting ESOPs.
With respect to ESOP company valuation and the adequate consideration exemption, the Committee noted that the DOL has neglected to provide critical regulatory guidance and asks the Department to prioritize formal rulemaking:
With respect to ESOP company valuation and the adequate consideration exemption, the Committee noted that the DOL has neglected to provide critical regulatory guidance and asks the Department to prioritize formal rulemaking:
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Jul. 10
If you couldn’t join us in Washington, DC for The ESOP Association’s National Conference in May, you missed one of the most energetic, informative, and fun events of the year!
It all started with TEA’s Advocacy Academy and our annual ESOP Advocacy Day, both of which drew record participation. On Advocacy Day, nearly 250 ardent ESOP supporters went to Capitol Hill to visit more than 75 Senate offices and nearly 150 House offices across 38 states to discuss critical ESOP issues with their elected representatives. Please see our Advocacy recap below for much more information!
It all started with TEA’s Advocacy Academy and our annual ESOP Advocacy Day, both of which drew record participation. On Advocacy Day, nearly 250 ardent ESOP supporters went to Capitol Hill to visit more than 75 Senate offices and nearly 150 House offices across 38 states to discuss critical ESOP issues with their elected representatives. Please see our Advocacy recap below for much more information!
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Jul. 01
Lately, there has been a flood of new information concerning private equity firms’ interest in employee ownership, specifically by Pete Stavros and KKR, one of the largest PE firms.
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ESOP Blog, Resource
Feb. 28
In this, our final installment on common criticisms of ESOPs—and why they are wrong—we’ll look at the assertion that ESOPs are not real ownership.
According to cynics, ESOPs are “fake” ownership plans. In “real” ownership, they argue, the owners control their assets by determining such things as who runs the company, who sits on the Board of Directors, when major corporate decisions are made that might impact the future of the company, and so on.
But ESOPs are true ownership.
According to cynics, ESOPs are “fake” ownership plans. In “real” ownership, they argue, the owners control their assets by determining such things as who runs the company, who sits on the Board of Directors, when major corporate decisions are made that might impact the future of the company, and so on.
But ESOPs are true ownership.
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ESOP Blog, Resource
Feb. 14
I often hear three criticisms about ESOPs: The second criticism is that ESOPs are a waste of taxpayers’ money.
Cynics say the tax breaks provided to ESOPs are money losers because the majority of American taxpayers pay higher rates to make up for the cost of ESOP tax benefits.
But anyone who says that must not have done very well in elementary school when they learned basic math. ESOPs offer great returns on tax incentives.
Cynics say the tax breaks provided to ESOPs are money losers because the majority of American taxpayers pay higher rates to make up for the cost of ESOP tax benefits.
But anyone who says that must not have done very well in elementary school when they learned basic math. ESOPs offer great returns on tax incentives.
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Resource, ESOP Report, Legal Update, Ownership Advantage, Washington Report, President's Page, Valuation, Beneficiary Designation
Feb. 01
The Impact of Tax Reform on ESOP C and S Corporation Business Valuations.
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