Call To Action – Small Business Tax Break Veto
The 2016 Federal Tax reform had an unintended consequence. Most small businesses organized as LLC or S Corporations are not allowed to fully deduct their state tax liability on their federal tax returns as big businesses can. In bipartisan fashion, the legislature, led by Rep. Mark Tisdel, took action so that small businesses could file their state taxes in a way that would level the playing field with large corporations.
This change literally costs nothing to the state other than administrative costs to implement. With big businesses already able to fully deduct their tax liability, this fix only impacted Michigan small businesses. It was estimated to save at least 170,000 Michigan small businesses over $190 million per year without having any impact on state revenue.
Unfortunately, this piece of legislation was vetoed by Governor Whitmer.
Please use the module below to contact Governor Whitmer to let her know that Michigan’s small businesses need her support of this common-sense legislation, not her veto.