To ensure both small business owners and the electorate are fully aware that the 4% income tax surcharge being proposed in Question 1 will harm pass-through small businesses, NFIB created a landing page with vital facts and information.
The site outlines some of the key points on the tax’s impact on Main Street businesses:
- The income tax surcharge could be levied on pass-through small businesses like LLCs, sole proprietors, partnerships, and sub chapter s corporations.
- While the tax may not apply to businesses annually, it will most frequently be triggered at the sale of the business or during another one-time event.
- The money is not needed because Massachusetts already collected so much in excess revenue that it must refund taxpayers $3 billion under the 62F law.
To learn more or to send your elected officials a message telling them “you are a small business, not a millionaire”, visit: www.NFIB.com/MASmallBizTax
