Tax Day news release on the Small Business Deduction New Mexico. 166,000+ small businesses in New Mexico could face significantly higher taxes.
The Maryland General Assembly adjourned session last week
Louisiana showed the largest single-year improvement of any state in the report.
RI projected to gain 5,000 new jobs annually over the next 10 years if the deduction remains in place, including an annual GDP increase of $250 million for the first decade.
NH projected to gain 6,000 new jobs annually over the next 10 years if the deduction remains in place, including an annual GDP increase of $345 million for the first decade.
The 20% Small Business Deduction will expire at the end of 2025 unless Congress takes action.
VT projected to gain 3,000 new jobs annually over the next 10 years if the deduction remains in place, including an annual GDP increase of $142 million for the first decade.
NY projected to gain 71,000 new jobs annually over the next 10 years if the deduction remains in place, including an annual GDP increase of $6.09 billion for the first decade
The measures will help small business owners deal with rising costs, reinvest in their operations.,
MA projected to gain 27,000 new jobs annually over the next 10 years if the deduction remains in place, including an annual GDP increase of $2.01 billion for the first decade.
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