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A number of companies have coming under scrutiny in recent months, as the U.S. reconsiders its corporate tax policy. The latest of these companies is the Peoria-based construction equipment manufacturer Caterpillar Inc., which is being probed by a U.S. Senate investigative panel to find out [...]

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Business

An Employee Stock Ownership Plan (ESOP) is a permitted shareholder of stock in a corporation with a valid S election in effect (“S Corporation”).  IRC §512(e)(1) provides that the earnings attributable to an ESOP’s stock in an S Corporation shall be taxable as unrelated trade or business income; [...]

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