Serving the needs of the Sub S Bank Community since 1998

We are the only association specifically created to help financial institutions maximize the benefits of their S Corporation election.

Sub S Bank Report Volume 20, Issue 2

The Sub S Bank Report Volume 20, Issue 2 is now available to read. Learn more about: Tax Cuts and Jobs Act; Sub S Calculations; Letters to Chairman Brady; CECL- Effect of Sub S Banks; ESOPS S Corp Legislation Proposal and Current Events; S Corporation Modernization Act of 2017    To read the Newsletter, login with your membership information.  If you need assistance resetting your log in information or did not receive the email copy to your inbox email Amy Willcox at awillcox@kslawllp.com  Read more

Recent Articles view all

  • The Subchapter S Bank Report- Volume 21, Issue 1

    Jan 19, 2018

    This Special Report on the Tax Cuts and Jobs Act, H.R.1 was prepared and authored by Patrick J. Kennedy, Jr. and William “Dub” Sutherland, VI, partners in the law firm of Kennedy Sutherland LLP. The firm represents community banks throughout the United States and in particular advises their owners, directors and officers on corporate, tax, business strategies and regulatory matters. As the substantive leaders of the Subchapter S Bank Association, Mr. Kennedy and Mr. Sutherland participated in the legislative process which resulted in the final bill and were leading advocates for Sub S Banks and other pass-through business organizations. What follows is an initial critical analysis of the S v. C decision that both S corp and C corp banks should undertake as a result of the opportunities presented by the new tax regime. In addition, we provide some of the detail of how the bills developed and the legislative process unfolded. Finally, we highlight some other provisions in the law of which Sub S Banks and their owners should be aware. These smaller, often rural, community banks rely on this S election to remain competitive in this climate of consolidation in the industry. With the major change to the tax code banks should take this opportunity to re-evaluate their tax liability and positioning. To aid in this review we have highlighted key changes to the tax code essential to determine whether to make or keep the S election.  

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  • Testimony before the House Financial Institutions Subcommittee On De Novos

    Jun 23, 2017

    Patrick J. Kennedy, Jr. was asked to testify before the House Financial Institutions and Consumer Protection Subcommittee on March 21, 2017. A summary of his remarks are included in this article.  

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  • The Fiscal Cliff: How did Sub S Banks Fare?

    Jan 08, 2013

    By: Patrick J. Kennedy, Jr and William Sutherland

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Benefits of Membership

  • Education
    Although some time has passed since financial institutions were first allowed to be organized as S corporations, S taxation is still an entirely new world to many. Let us help your shareholders and senior management better understand the many benefits of S taxation and how you can use them to maximize your financial institution’s performance.

  • Representation
    In recent years, virtually every aspect of the community banking industry has been under scrutiny by legislators and regulators. Unfortunately, S corporation taxation is no exception. The Subchapter S Bank Association is the only organization specifically focused on protecting the benefits you enjoy as an S corporation.

  • Information
    How are the changing legislative and regulatory landscapes going to affect the way you do business as an S corporation? That is the primary question that the Subchapter S Bank Association strives to answer with its publications. Via the web, member emails and print publications, we are committed to giving you the resources you need to stay informed and in front of new challenges.


Latest Newsletter

  • Subchapter S Bank Bill Introduced In House
  • Capital Treatment of Preferred Stock Under H.R. 2339
  • New Sub S Bill Modified from Prior Bill
  • Tax Reform initiative Continues
  • Don't Lose Your S Election: It promises to be even more valuable under any tax reform proposal

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