Big Sky Times

The Montana Legislature is reviewing Senate Bill 322, which proposes an increase in the business equipment tax exemption, changing it from $1 million to $3 million. This legislative action could significantly impact small businesses by reducing compliance costs.

NFIB has issued an Action Alert aimed at its members in Arizona. The alert encourages them to promptly express their opinions about this business equipment tax, which is referred to as a "tax on honesty."

The proposed increase in the exemption aims to alleviate the burdens of compliance and paperwork for small businesses. This change is intended to allow these businesses to focus on growth, create job opportunities, and enhance investment in employee benefits. By raising the exemptions, the number of businesses ensnared by complex compliance protocols would likely decrease.

Small businesses frequently incur higher costs for accounting services to accurately manage and pay this tax compared to the actual tax liability. This perceived "tax on honesty" can pose a challenge across various economic conditions, emphasizing the potential benefits of reform.

NFIB members are encouraged to utilize the link provided to communicate with their representatives and advocate for SB1069.

For those not part of NFIB, there is an invitation to join the organization.

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