Senate Bill 1069 would raise the business property tax exemption to $500,000 beginning next year.

NFIB has sent an Action Alert to its Arizona members, allowing them in a few clicks to register their opinion on this so-called “tax on honesty.”

Should SB 1069 pass, it would mean that any business with personal property valued at $500,000 or less would not have a tax reporting or payment requirement–saving them both time and money while also reducing the risk of audit.

Raising this exemption will reduce burdensome record-keeping and compliance costs, allowing businesses to reinvest in growth, jobs, and employee benefits. Small businesses often pay more to accountants than they owe in taxes, making this tax a tax on honesty. This reform will benefit businesses during good and bad economic years.

NFIB members are asked use the convenient link sent them to send a message to their representatives, urging their support for SB1069.

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Small Businesses Applaud Senate for Raising Arizona’s Personal Property Tax Exemption