Owners of U.S.-based plastics businesses work hard for their money. And a desire to hold on to more of that hard-earned cash might lead some older entrepreneurs to sell their businesses before 2010 is over.
That’s because a 15 percent U.S. capital gains tax rate becomes 20 percent on Jan. 1, 2011, as tax cuts put in place by the Bush administration expire. There’s some concern that rate could increase to 25 percent by the end of 2012 as the U.S. government looks to increase revenue amidst an ever-expanding budget deficit.
“There will be a lot of Dec. 31 closings this year,” said Bill Ridenour, president of the Polymer Transaction Advisors Inc. consulting firm in Newbury, Ohio. “People are hoping to settle...
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