The REST Act Supports Small Businesses! (H.R.3725)
The SBAC is strongly supporting legislation filed by Representative Newman designed to cut taxes on entrepreneurs and small businesses across the country. The Relief and Equity for Small Businesses through Tax (REST) Act adjusts Section 199A of the Internal Revenue Code to increase the deduction of qualified business income from 20% to 25% for business owners making less than $100,000 in taxable annual income.
Simply put, this means entrepreneurs that generate less than $100,000 in income will pay fewer taxes so they can grow their businesses.
Read Congresswoman's Marie Newman's Press Release HERE.
What Chicago Retailers Should Know About The Kiosk Ordinance
SBAC INSIGHTS PAGE An ordinance has been filed which will impose a tax on retailers that use automated self-checkout kiosks. This ordinance taxes retailers $20,000.00 for each automated self-checkout kiosk operated at their establishment. The burden for paying this tax cannot be shifted onto customers. There are record-keeping requirements and other rules set forth by…
The Healthcare Protection Act: What Small Business Owners Should Know
Download PDF here SBAC INSIGHTS PAGE SBAC INSIGHTS PAGE
Small Business Economic Impact Analysis Template
Small Business Economic Impact Analysis Template Rule change: ______________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ NAICS 2-digit codes of small businesses being impacted: ___________________________________________________ _____________________________________________________________________________________________________________ Estimated number of small businesses being impacted: _____________________________________________________ List how the rule will impact the following categories for a small business: Hiring and staffing: _____________________________________________________________________________________ …
