NFIB Arkansas Small Business Victories

Date: February 23, 2020

Corporate Tax Reform

Passed a bill that reduced the corporate tax rate from 6.5% to 5.9% which resulted in a $40,000,000 tax break for businesses. We also doubled the net operating loss carry forward from 5 years to 10. This change will result in tax savings of $70,000,000 per year for small business 

Prevented the Creation of a Vehicle Miles Driven Tax

NFIB defeated a bill that would have created a tax of 1.5 cents for each mile driven in Arkansas. The tax would been collected by installing a tracking device in Arkansas vehicles.

Unemployment Insurance Tax Cut

Passed legislation that reduces the amount of wages that employers pay unemployment insurance on from the first $10,000 to the first $7,000.00. The legislation is estimated to save business owners $55 million per year.

Passed Legislation to Keep Cities From Making Labor Laws

NFIB passed SB668, by Senator Bart Hester, which prohibits local governments from passing their own employment requirements. This will prohibit cities from raising the minimum wage. Cities in other states, like Seattle Washington, have established minimum wages of $15 per hour.

Stopped Overreaching Legislation Limiting Retail Parking Lot Lighting and Signs

The night sky bill sought to limit a business owners ability to use lighted signs to advertise and light their parking lots. The legislation would have allowed local governments to set limits on when outdoor parking lot and advertising signs could be lit and how bright the lighting could be.  The bill’s stated purpose was to end “light pollution” and stop “wasteful use of energy.”

Subscribe For Free News And Tips

Enter your email to get FREE small business insights. Learn more

Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Learn More

Or call us today
1-800-634-2669

© 2001 - 2024 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy