NFIB Indiana State Director Natalie Carroll testified today before the Senate Tax and Fiscal Policy Committee on Senate Bill 259. Carroll explained to the committee that an NFIB member and Indiana small business owner was fined $500 for failing to report a $0 income filing for his business partner, who resides out of state. Several tax preparation software systems did not pick up on this requirement, nor did some CPAs.

“This wasn’t just a one-off situation. In fact, the fiscal impact of this bill shows that in one year, the state collected $900,500 in fees that had been imposed on Hoosier small businesses. That means that 19,000 small businesses were fined $500 each,” Carroll explained.

NFIB supports Senate Bill 259 as it would amend the tax code by removing the fine associated with an unnecessary and burdensome tax requirement to foster a more business-friendly environment in Indiana.

“While the Committee isn’t voting on SB 259 today, Indiana small businesses are hopeful that lawmakers will prioritize advancing this legislation and make a positive difference for the small business community that is so important to our state,” Carroll said.