What it means: The latest episode of the Small Business Rundown podcast covers Prop 9, an amendment on the Nov. 4 Texas ballot that provides significant and immediate tax relief for Texas small businesses.
Our take: Proposition 9 adds an amendment to the Texas Constitution, expanding the inventory tax exemption for small businesses to $125,000. Prop 9 would provide immediate relief from hefty inventory tax burdens and give Texas small businesses the economic freedom to hire and invest in their business and their community.
There are crucial small business issues on ballots nationwide this November. The Small Business Rundown covers how annual inventory taxes affect the growth of small businesses and encourages Texas listeners to vote yes on Prop 9.
Episode 72: Small Business Tax Issues on Nov. 4 Texas Ballot
Texas voters can make a difference and save small businesses over $500 million annually by voting yes on Prop 9. The tax relief provided by the inventory tax exemptions outlined in Prop 9 gives small businesses the freedom to develop and invest in the future. NFIB member and Texas small business owner Tim Green explains how current inventory tax policies handcuff small businesses. NFIB’s Region State Director Dawn McVea, and Texas State Director Jeff Burdett, discuss the importance of the passage of this critical ballot proposition.
Under the current law, Texas small businesses that keep more than $2,500 of inventory through the end of the year would owe taxes on that inventory—even if they have already paid taxes on it before. Voting yes on Prop 9 is a vote to support small businesses.
Learn more: Find resources and voting information at NFIB’s Voting Hub. Listen to the full episode for more information and catch up on other important small business topics with the Small Business Rundown podcast. New episodes are available every two weeks on Thursdays.
NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.
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