Big Sky Times

Brad Close, President of the National Federation of Independent Business (NFIB), recently spoke with Peter Christian on KGVO-AM in Missoula, Montana. The discussion focused on the need for Congress to pass the Main Street Tax Certainty Act and make the Small Business Deduction permanent. This move aims to prevent a significant tax increase on small businesses in Montana.

Close highlighted the potential impact if Congress does not act: "If Congress takes no action, the 20% Small Business Deduction will expire in 2025, imposing a massive tax hike on a majority of America’s small businesses." He emphasized that while Members of Congress are back in their states and districts during August, small business owners want them to understand the importance of making this deduction permanent.

The 20% Small Business Deduction, also known as Section 199A, allows small businesses organized as pass-throughs—such as S corporations, LLCs, sole proprietorships, or partnerships—to deduct up to 20% of qualified business income. This provision is set to expire in 2025. It was originally created under the 2017 tax law to align small business tax rates more closely with those of larger corporate competitors.

According to a recent NFIB member ballot, an overwhelming 91% of NFIB members support permanently extending these expiring provisions from the 2017 tax law.

For further information about NFIB's advocacy efforts and updates on Montana's small business environment, visit www.nfib.com/MT.

NFIB has been representing America's small and independent business owners for over eight decades. The nonprofit organization operates both at a national level in Washington D.C., and across all state capitals since its inception in 1943.