NFIB State Director Dawn McVea says tax relief tops the small business agenda for this year’s session of the Mississippi Legislature, which gavels into session today.
“It’s been a challenging couple of years for Main Street businesses, beginning with the pandemic and continuing with the labor shortage, breaks in the supply chain, and inflation,” McVea said. “Our members are urging their legislators to support measures that ease the tax burden on small businesses and make it easier for them to get through this crisis.”
Unlike other business groups, the National Federation of Independent Business’s positions on public policy aren’t determined by a board of directors but are based solely on the position of its members as determined by its state and federal member ballots.
This year’s state ballot shows 90.9% of NFIB members in the state support efforts to reduce or eliminate the onerous inventory tax while 77.9% want lawmakers to reduce or eliminate the personal income tax. Most small businesses in the state are organized as pass-through entities, meaning owners pay taxes at the individual rather than the corporate rate.
The ballot also shows 62.1% of NFIB members oppose legislation that would saddle businesses with the cost of collecting and recycling packing material.
“That doesn’t mean our members oppose recycling,” McVey said. “It means our members are concerned about legislation that would impose a recycling mandate on businesses that already are struggling financially because of everything else happening with the economy.”