The refund would help small businesses struggling amid an uncertain economy
NFIB State Director Hunter Loggins released the following statement today in response to Gov. Brian Kemp’s proposal to use surplus revenue to give Georgia taxpayers a $1 billion tax refund:
“This could have a big impact on Georgia’s small businesses. Most small businesses in the state are organized as pass-through entities, meaning the revenue passes through the business to the owner who pays taxes at the individual tax rate. Governor Kemp’s proposed tax refund would help relieve some of the financial pressure on Main Street businesses.
“We’re encouraged by what we’re hearing. This tax refund, combined by the financial relief provided by the passage of Referendum Question A would go a long way toward creating an environment that enables small businesses to grow and create jobs.”
Referendum Question A, which is one of NFIB’s top issues in this year’s General Election, would help small businesses by raising the threshold for paying taxes on tangible personal property.
“Small businesses already pay sales tax on equipment, desks, and other property at the time of purchase. The TPP tax means they have to pay taxes on the same items again and again,” Loggins said. “Raising the threshold for this tax would help reduce the financial burden on employers dealing with rising costs due to inflation.”
