NFIB Opposes Unfair Windfall for Big Business

May 25, 2023

NFIB Opposes Unfair Windfall for Big Business

MADISON (May 25, 2023) – The National Federation of Independent Business announced today it is strongly opposed to a plan being considered by the Legislature that would redirect millions of dollars of sales tax revenue to big box retailers but ignores the needs of the state’s small business retailers. Bill G. Smith, NFIB State Director in Wisconsin, said, “The proposal ignores the needs of small business retailers who struggle with the uncertainty of the increasing costs of supplies, the rising costs of labor, and the economic challenges of inflation.” Wisconsin has limited the amount big box retailers can retain for the collection and remittance of sales tax revenue because studies show it costs small business far more to collect the sales tax and remit it to the state than it does for big box retailers. “Wisconsin has capped the amount big business can retain for more than 20 years, as do most states, because it prevents big box retailers from skimming vitally important sales tax revenue needed to support the goals of state government,” said Smith. “It is disappointing our state’s big business retailers plan to put forward a proposal, balanced on the back of small retailers, that is extremely costly to the state and unfair to small and independent businesses.” “I urge the Legislature to fight for our hard working small business owners and support an increase in the retailer’s discount for small business and keep the cap on the current amount big box retailers may retain.”

Topics:

Uncategorized

State:

Wisconsin

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