Challenges Facing North Carolina Small Businesses in 2021

Date: August 25, 2020

Here are some of the issues NFIB will be tackling in next year’s legislative session:

Workers’ Compensation Classifications

While there are numerous types and classifications of jobs in the marketplace and rates set according to the classification of the job, NFIB is working to make sure the rates are fair and compatible with the rates set in the marketplace.

Tax Reform

Continuing to fight for the reduction and elimination of the franchise tax. Additional tax reform including repealing tax on services and preventing additional tax on services from being passed

Reinstate the State Tax Deduction on First $50,000 Income

After the repeal of the 2011 law requiring no state taxes to be paid on the first $50,000 of income, NFIB is working hard to save small businesses up to $3,500 per year for those not earning over $250,000, and fighting to reinstate this tax deduction.

Stall Minimum Wage Increase and Paid Sick Leave Proposals

· Increased minimum wages and paid sick leave cause small business owners to cut jobs and reduce employee work hours.

· NFIB continues to oppose any efforts to make changes to the minimum wage or paid sick leave.

Stop Tax on Services Efforts

NFIB is working hard to stop the legislature from passing additional taxes on services, making small business owners tax collectors for the state Department of Revenue without compensation.

 

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