New SIPC Fees Are “Taxing” The Small Broker Dealer
Tuesday, August 4th, 2009How the Government is taxing small businesses
Recently sticker shock had eyes popping out of their head all across America as Firm owners received their SIPC bill. For nearly 14 years the SIPC insurance cost of a brokerage firm was $150.00 flat fee paid annually. That changed dramatically for firms in the past few weeks as bills totaling 5, 10, even $50,000 began arriving at firms doorsteps to help pay for the huge cost associated with bailing out the Madoff’s and Lehman’s of the world. Instead of a flat fee, firms are now being taxed (or punished depending on your view!) a whopping one quarter of 1 percent of the firms total revenue (not profits, as one might expect, but revenues)… (more…)
RSS
Loading ...