Introduced
by
To increase from $350,000 to $500,000 the Single Business Tax “cliff” or filing threshold for a small business in its first or second year. This is the amount of annual gross receipts that subjects a business to the tax. Below the “cliff” a business pays no tax; above it, a business pays SBT on its entire tax base, which is why it is called the “cliff”.
Referred to the Committee on Finance
Referred to the Committee on Economic Development, Small Business, and Regulatory Reform
