PEACE OF MIND ON THE HORIZON FOR SMALL BUSINESS COMMUNITYIt’s vital that lawmakers have a better grasp on the impact their policy changes have on the small business community.
Business Entity Tax & Comprehensive Tax ReformEliminate the Business Entity Tax entirely to put $ back in the pocket of every small business owner in Connecticut and ensure that small business has a voice in state tax reform discussions. While NFIB was successful in leading the charge to reform the state’s $250 Business Entity Tax (BET), this nuisance tax on small business owners, including those that don’t even make a profit, must be fully repealed in the future. In addition, the State Tax Panel will be considering comprehensive changes to Connecticut’s tax system and NFIB will to make sure small business has a voice in this process. Finally, with ongoing state budget deficits predicted into the near future, NFIB will fight against new or higher taxes that may be imposed to unfairly balance the budget on the backs of small businesses.