Passage of Proposition 121 is highlight of the evening for state’s Main Street entrepreneurs
DENVER, Nov. 9, 2022—From Tony Gagliardi, Colorado state director for the National Federation of Independent Business (NFIB), America’s leading small-business association, on what Election Day results portend for the state’s Main Street enterprises.
“Passage of Proposition 121, lowering Colorado’s personal income tax rate, was the best news for small business to come out of Election Night.
“It’s always important to remind people that most small businesses are structured as pass-through entities, meaning whatever profits they make (never a guarantee) are taxed at the personal, not corporate, rate. With inflation upon us, being able to keep more of your hard-earned money is magnified in importance.
“Right now, the eyes of small business are turned toward the next session of the Legislature and the job of making its case to the policymakers who will influence their ability to own, operate, and grow their enterprises.”
Keep up with the latest Colorado small-business news at www.nfib.com/colorado or by following NFIB on Twitter @NFIB_CO or on Facebook @NFIB.CO
For nearly 80 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since its founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com.
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