With the Latest Income Tax Bill, 'The Devil's in the Details'

Date: January 12, 2022

NFIB State Director Dawn McVea released the following statement today in response to Speaker Gunn’s plan to phase out the state income tax:

“While our members like the idea of eliminating the state income tax, as we have said, the devil’s in the details. House Bill 531 as presented has a lot fewer tax increases on small business owners than the 2021 version of the legislation did. We believe that is a much better starting point for discussion. We urge the House to support this measure and continue this important debate for Mississippi small businesses.

“Our hope is that the House fully considers the impact of the proposed changes to give it the best chance of passage in the Senate and, ultimately, earn the support of Governor Reeves. According to our latest ballot, 78% of our members support tax reform with the understanding that there are some trade-offs.

“We just want to make sure the result of this legislation is a tax reduction on small business owners, not an inadvertent increase or fiscal cliff in later years that could end up costing businesses more.”

Related Content: Small Business News | Mississippi

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