Taxes Continue to Hamper Small Business Growth
The 2015 Small Business Taxation Survey by the National Small Business Association (NSBA) shows that small businesses overwhelmingly support reducing both corporate and individual tax rates coupled with reducing deductions. In addition, one-in-three small firms report spending in excess of 80 hours per year, and more than one-quarter spend $10,000 annually on the administration of federal taxes alone.
Tax reform for small businesses is one of PIA's top legislative priorities for 2015. PIA supports a clear and simple tax code, reducing individual and corporate income tax rates for small businesses, and opposes tax provisions or regulations that impede small business growth.