NFIB North Carolina Small Business Victories

Date: August 25, 2020

Here’s a look at some of our victories in the 2020 General Assembly:

Business Owner Liability Protection

NFIB got legislation passed which will protect the business owners from being sued by employees or customers if they get COVID-19 and say they got the virus while in your place of business. HB118 COVID Liability Safe Harbor

Championed Regulatory Reform

Successfully opposed legislation requiring employers to provide paid sick leave to their employees

Workers’ Compensation Rates Reduced

NFIB supported Insurance Commissioner Mike Causey’s proposal to reduce workers’ comp rates by 17.2% putting money back in the pockets of small business owners. This reduction became effective in 2019 while NFIB continues to support and monitor the results.

Small Business Healthcare Act

Successful in allowing small businesses to join with other associations to find less expensive healthcare as well as allowing associations to cross state lines to join other associations to shop for healthcare for their employees

Coordinated Major Tax Reform Efforts

· Ensured that the corporate tax rate be reduced from 6.9% to 5% last year, 4% this year and 3% 2017 and 2.5% 2018
· Reduced the personal income tax rate from 7.75% to a flat 5.9%, 5.49% in 2017, 5.25% in 2019
· Repealed the “death tax,” saving family businesses

Independent Business Retirement Study

Supported and helped get passed the creation of a study commission to create a way for small independent business owners to provide themselves and their employees a retirement plan through a 401(k) or similar savings plan

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