SMALL BUSINESS PARTICIPATION AT WEDNESDAY'S TAX PANEL HEARING VITAL TO THOSE SEEKING REFORM
HARTFORD
(September 15, 2015) – Lawmakers are poised to hold a public hearing this week
aimed at evaluating the current state tax code and the National Federation of
Independent Business (NFIB) is imploring the thousands of small business owners
in Connecticut to weigh in with solutions to the complicated and inconsistent
tax structure currently crippling the state’s economy.
“Testifying
before the tax panel presents a unique opportunity for NFIB members and small
business owners in general to not only voice their frustrations, but present
plausible solutions to lawmakers that are slowly coming to the conclusion that
reform is the only answer to correcting the fiscal mess Connecticut has found
itself in,” according to Connecticut State Director, Andrew Markowski.” Small
businesses play a significant part in our state’s economy and are
disproportionately impacted by our tax system through income taxes, corporation
taxes, sales taxes, property taxes, and the estate tax, among others.”
NFIB
supported the creation of the tax panel which was established via legislation
last year. At the time, Markowski was quoted as saying that the panel would be
a first step in examining Connecticut’s tax system and the economic impact it
has on the state and upon small business owners. He cited the complexity
of tax compliance for small business owners, various inconsistencies in state
tax policy, and the frequency of changes in tax laws that have most recently
been impacted by this year’s budget passage.
“I
know that our members would certainly like to see some of the corporate tax
credits become available to pass through entities. What many lawmakers fail to
understand is that a vast majority of small business owners pay their taxes as
a pass through and by excluding them from credits that are offered to
corporations, they are placing them at a competitive disadvantage compared to
big businesses,” concluded Markowski.”
The
public hearing will be held on Wednesday, September 16, 2015 from 4:00 pm-8:00
pm in Room 2E of the Legislative Office Building in Hartford. Anyone wishing to
speak should be in line by the breakout space next to Room 2E prior to 2:00 pm.
