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Can my SBIC management company contribute to NASBIC PAC?

April 26, 2017COMPANY contribute Management nasbic PAC sbic

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Can my SBIC management company contribute to NASBIC PAC?

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The answer is yes in most cases. Individuals, partnerships, and limited liability companies that are taxed as partnerships may contribute to NASBIC PAC. Partnerships and eligible LLCs that contribute more than $200 to a PAC must allocate the contributions among individual partners or shareholders. One PAC may also contribute to another PAC. “S” and “C” Corporations may not make PAC contributions. Finally, although it is legal for a partnership or eligible LLC holding an SBIC license to make political contributions, NASBIC suggests that eligible SBICs that wish to make partnership or LLC contributions do so through eligible management companies. Contributions to NASBIC PAC are not deductible for federal income tax purposes.