Cooperstown Sharing Benefits of Corporate Tax Cuts with Employees
Cooperstown Environmental LLC recently announced that it was joining the growing list of companies across the country that are taking steps to share the fruits of the recent tax reform passed by Congress with its employees. Specifically, as a Limited Liability Company (LLC), Cooperstown expects to benefit from the deduction allowed for pass-through entities.
Cooperstown Managing Principal Susan D. Curtis told employees that the company, effective immediately, was doubling the company-paid contribution to each employee’s retirement saving account. Additional steps to increase compensation, increase benefits, and improvements are being contemplated as the specifics of the tax reduction measures become clear.
Curtis explained “The tax bill as portrayed in the media was presented as not helping the average American. We wanted to make sure that the employees of Cooperstown Environmental saw a specific, direct benefit in their personal retirement funds. In addition, employees have noticed more take-home pay from the recent adjustment of the withholding tax.” Curtis also mentioned that business prospects are extremely encouraging, and the firm’s outlook is strong, which may be related to the economic expansion.