NFIB North Carolina Small Business Victories: January 2018

Date: February 05, 2018

Victories

 

 

Provided Unemployment Insurance Relief

Reduced the number of paid UI weeks and the amount from $535 to $350.

 

Championed Regulatory Reform

Successfully opposed legislation requiring employers to provide paid sick leave to their employees.

 

Coordinated Major Tax Reform Efforts

  • Ensured that the corporate tax rate be reduced from 6.9% to 5% last year, 4% this year and 3% 2017 and 2.5% 2018
  • Reduced the personal income tax rate from 7.75% to a flat 5.9%, 5.49% in 2017
  • Repealed the “death tax,” saving family businesses

 

Unemployment Insurance Reform

Small business will pay off the UI debt of $2.8 billion by the end of the summer 2017, saving hundreds of millions in taxpayer money. This has reduced the UI rate for small business by 2016.

 

 

 

 

Challenges

 

Unemployment Insurance Reform

Working to require beneficiaries of unemployment to have 5 job searches per week instead of 2, decreasing the number of unemployed.

 

Reinstate the State Tax Deduction on First $50,000 Income

After the repeal of the 2011 law requiring no state taxes to be paid on the first $50,000 of income, NFIB is working hard to save small businesses up to $3,500 per year for those not earning over $250,000, and fighting to reinstate this tax deduction.

 

Stall Minimum Wage Increase and Paid Sick Leave Proposals

  • Increased minimum wages and paid sick leave cause small business owners to cut jobs and reduce employee work hours.
  • NFIB continues to oppose any efforts to make changes to the minimum wage or paid sick leave.

 

Stop Tax on Services Efforts

NFIB/North Carolina is working hard to stop the legislature from passing additional taxes on services, making small business owners tax collectors for the state Department of Revenue without compensation.

 

 

 

 

 

 

 

Related Content: Victories | State | North Carolina | State

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