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September 18, 2024
New EY macroeconomic analysis, NFIB report of small business owners illustrates impacts of potential massive tax hike on small businesses.
REPORT: Arkansas Jobs, Economic Growth at Stake if 20% Small Business Tax Deduction Expires
- Specifically in Arkansas, the analysis estimates that making the deduction permanent would create 10,000 new jobs each year for the first ten years, and 20,000 annually every year thereafter. (See more state-specific data beginning on pg. 7)
Background:
The 20% Small Business Deduction was created as a part of the 2017 tax law to level the playing field between small businesses and larger corporations. It has empowered small business owners to overcome the economic challenges of the last few years – but it’s set to expire at the end of 2025. The Main Street Tax Certainty Act would make the 20% Small Business Deduction permanent and avoid a massive tax hike on a majority of America’s small businesses. Learn more at www.SmallBizDeduction.com
State:
Get to know NFIB
NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.
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