The total tax cut for small business amounts to more than $75 million a year
In the last weeks of the 2021 legislative session, late night efforts by NFIB paid off big time with the Small Business commercial Personal Property Tax exemption being more than doubled! Legislation pushed by NFIB will raise the current exemption cap on commercial personal property from the current $80,000 limit to $180,000. The total tax cut for small business amounts to more than $75 million a year. NFIB was the only business organization working on raising the cap for small business before session ended for 2021.