LANSING – The National Federation of Independent Business (NFIB), the leading defense organization of the small businesses of Michigan, has published two new digital tools to help the owners of small businesses, those in charge of formulating policies and the public in Michigan understand the significant economic impact of the tax deduction of small businesses of 20% and what is at stake if the congress does not make it permanent.
The new tools include an interactive map that allows users to explore how to extend the deduction of small businesses would boost job creation and GDP growth in each Congress district in Michigan. NFIB also launched a tax calculator to provide the owners of small businesses in Michigan personalized estimates of how much more they could have in federal income taxes in 2026 if the deduction expires.
See the interactive map here and the calculator here.
“These new tools are a resource for small businesses and elected leaders to see the economic bets of making the deduction of small businesses permanent,” said Nfib Michigan’s state director Amanda Fisher. “If Congress does not act, millions of small businesses throughout the country, even here in Michigan, will face a massive tax increase. That results in less jobs, less investment and slower growth for our communities. We urge Congress to the deduction of small companies of 20% permanent and applaud to the United States Chamber for approved the approval of the approval of the United States Chamber approval. A GREAT BEAUTIFUL ACT This morning, one of the most professional commercial laws in recent history. “
LL companies throughout the country, even here in Michigan, will face a massive tax increase. That results in less jobs, less investment and slower growth for our communities. We urge the Congress to deduct the small businesses of 20% and applaud to the United States Chamber for approving the A GREAT BEAUTIFUL ACT This morning, one of the most professional commercial laws in recent history. “
According to the Interactive Map of NFIB, if the deduction extends, Michigan could see an increase of 71,310 jobs and $ 3,961,000,000 in GDP during the next decade. District level data allow local legislators and leaders to understand exactly how small businesses in their communities win when tax deduction becomes permanent, or loses if not.
The tax calculator helps individual owners of small businesses to project their potential tax increase if the deduction does not extend. For example, a small business owner of Michigan with a personal income of $ 75,000 and qualified commercial income of $ 150,000 could see a tax increase of more than $ 13,000, depending on its full financial profile.
To explore the tools and get more information on how NFIB is working to protect Michigan’s small businesses, visit: www.smallbusinessduccion.com.