NFIB State Director Dawn Starns McVea released the following statement today on HB 1439, legislation that would phase out the state income tax over 10 years:
“While our members support the idea of eliminating the state individual income tax, the devil’s in the details, and HB 1439 would end up helping some small business owners but raising taxes on specific industries such as manufacturing and farming. In addition, it would increase the cost of doing business in Mississippi by increasing the sales tax on business inputs such as equipment.
“The version of the bill that passed the House last Wednesday appears to do as much harm as good. We will continue to work with legislators in both chambers to thread the needle and try to find some common ground on a final bill that doesn’t pick winners and losers but helps all small businesses.”
NFIB is the nation’s leading small business advocacy organization. To learn more about NFIB in Mississippi, visit www.NFIB.com/MS and follow @NFIB_MS on Twitter.