FOR IMMEDIATE RELEASE
Contact: Casey Hill, Utah State Director, casey@lincolnhill.com
Tony Malandra, Senior Media Manager, anthony.malandra@nfib.org

SALT LAKE CITY, Utah, April 15, 2026—The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, released a new report outlining the economic benefits and massive tax savings the 20% Small Business Tax Deduction will bring to the 371,569 small businesses in Utah now that it has been made permanent. The report also details several other federal tax relief wins that were signed into law.

Additionally, Utah is projected to gain 16,000 new jobs annually over the next 10 years if the deduction remains in place, including an annual GDP increase of $816 million for the first decade and $1.7 billion per year beyond 2035.

View the report for Utah here.

“This year’s Tax Day is good time to once again thank Utah’s congressional delegation for their work in making the Small Business Deduction permanent, instead of letting it expire at the end of last year,” said Casey Hill, state director for NFIB in Utah. “To call it a historic accomplishment is not an overstatement. More than 80% of small businesses are organized as pass-through entities for federal tax purposes and report their business earnings and expenses on their personal income tax forms. Thanks to the – now – permanency of the Small Business Deduction, combined with the Utah Legislature’s passing, and Gov. Spencer Cox’s signing, of Senate Bill 60, small business owners have clearer certainty to decide on whether to hire more workers, give raises to current employees, or buy new equipment. For other Main Street entrepreneurs, it’s a lifeline to remain solvent long enough to turn their businesses back in the direction of profitability.”

Since 2017, the Small Business Tax Deduction has allowed small businesses to deduct up to 20% of their business income. This has empowered them to grow, hire, invest in their employees, and give back to their communities. Without action by Congress, this essential tax deduction was set to expire at the end of 2025.

After being passed by Congress, President Trump signed legislation on July 4, 2025, making the Small Business Tax Deduction permanent. This permanent tax relief means America’s small businesses can use more of their hard-earned money to support their business and employees instead of sending it to their state and federal government. It also provides certainty and levels the playing field for small businesses against their large corporate competitors.

Keep up with the latest on Utah small business news at www.nfib.com or on X @nfib_ut.

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For over 80 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com.

NFIB Utah
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www.nfib.com
X: @NFIB_UT