Bay State Charges Two Firms with Fraudulent Security Sales Investment News, the daily online publication of the financial advisory industry, reports that Massachusetts took aim Thursday at two players in the small but potentially vast arena of crowdfunding, which lets small private companies sell equity directly to investors:
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Congressional Democrats have proposed financing student-loan legislation by expanding payroll taxes on subchapter S corporations and partnerships. The bill would levy Social Security and Medicare taxes on all business income if the firm is engaged in professional services, such as investment advice, or if 75% or more of the gross income of the firm is attributable to three or fewer shareholders. Investment News’ Mark Schoeff Jr. reports that in Washington parlance, the phrase “pay for” has become a noun, “payfor.” This term trends during the legislative process, as lawmakers seek “payfors” to offset spending or tax cuts contained in bills.…