2021 Legislative Session Begins
The Massachusetts General Court is slowly gearing up for another legislative session with a bill filing deadline of February 19th. House and Senate leadership also released the legislative committee assignments last week and those committees will make decisions on countless bills impacting small businesses.
The most important bills, requiring immediate attention, are House Bill No. 55 that freezes unemployment insurance rates to prevent a 60% increase in UI taxes.
The most important bills, requiring immediate attention, include House Bill No. 55 that freezes unemployment insurance rates to prevent a 60% increase in UI taxes.
Also, Senate Docket 172 with House Dockets 484 and 1338 ensure pass-through entities, those businesses that file taxes through a personal tax return, will not face taxes on their PPP loans.
A recent editorial penned by NFIB appeared in The Eagle-Tribune on the subject: https://www.eagletribune.com/opinion/column-dont-tax-small-businesses-on-paycheck-protection-loans/article_c58f628d-3ede-5ca1-82b6-aa4bb0f2bb0c.html
While bills are still being filed at a steady rate, NFIB will continue to monitor the bills impacting your small business. Legislators continuously repeat they want to “help small businesses” recover from the pandemic and we are going to hold them to that statement this session.
Remember to contact your elected officials on these key pieces of legislation
Unemployment Insurance Taxes: https://www.votervoice.net/NFIB/21/campaigns/79622/respond
Taxable PPP Loans: https://www.votervoice.net/NFIB/21/campaigns/79304/respond