Businesses organized as partnerships in the United States continue to grow in importance. An EY study commissioned by the National Association of Manufacturers highlights how changes in partnership taxation could impact US partnership businesses.
A partnership is an unincorporated legal form of organization for a business in which two or more persons or entities join together to conduct business and have a shared financial interest in the business.
Key findings of the report include:
14%
U.S. Manufacturing Businesses That Are Partnerships
1.1M
Workers Employed at Manufacturing Partnerships
$57B
Earned by Workers at Manufacturing Partnerships
Policies that discourage manufacturing partnership formations will reduce jobs, lower GDP, discourage investment, and ultimately, dampens economic growth.
LEARN MORE: Economic impact of U.S. manufacturing partnerships
For additional report appendix, see here.