Montana entrepreneur calls on Congress to make the Small Business Deduction permanent
WASHINGTON, D.C. (Aug. 28, 2023) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, released a new video in a series that features small business owners from across the country explaining the importance of the 20% Small Business Deduction.
The latest edition in the series features Montana Small Business Owner Gray Cornwell of Montana Valley Irrigation in Great Falls, telling his story on why the Small Business Deduction is so important to his business.
Watch NFIB’s new In Their Own Words video here:
“Small businesses are the heart of the United States economy….We’re your next-door neighbor trying to make a living. If the Small Business Deduction is eliminated, it’s going to be a struggle for our business…..We need support.”
The 20% Small Business Deduction (Section 199A) allows small businesses organized as pass-throughs (S corporations, LLCs, sole proprietorships, or partnerships) the ability to deduct up to 20% of qualified business income and is scheduled to expire in 2025.
NFIB recently launched a campaign urging Congress to pass the Main Street Tax Certainty Act, which would make the 20% Small Business Deduction permanent for small businesses.
Learn more at www.SmallBizDeduction.com.
