Robinson explained impact of tax reform on small businesses
INDIANAPOLIS, Ind. (Jan. 10, 2024) – NFIB Indiana State Director Natalie Robinson testified before the Tax Review Task Force on the positive impact tax reform would have on small businesses. The hearing took place on Jan. 10, 2024, at 9:00 a.m. in the Indiana Senate Chamber.
“The Indiana General Assembly has an opportunity to further improve Indiana’s tax climate and allow taxpayers to spend and invest their tax dollars as they see fit, rather than growing government. Passing tax reform that allows small businesses to keep more of their hard-earned money not only allows them to better compete with their large, corporate competitors in this tight labor market, it also helps them offer existing employees better benefits to help retain them,” Robinson said.
She continued, “We are encouraged by the work of the Tax Review Task Force and appreciate the exploration of tax reform that will further improve Indiana’s tax climate and support the small business community.”
According to an NFIB tax survey, federal business income taxes were the most burdensome tax on both a financial and administrative basis for small business owners. Payroll tax and state & local income tax were the second most burdensome taxes, followed by property taxes.
