Associated Industries of Missouri began the legislative session by drafting a broad-based tax cut for EVERY Missouri business. Our goal is simple: reduce taxes for employers in Missouri and the economy will respond as those employers use the extra money to hire additional employees, give employees raises, invest in capital, or other business enhancements. This, in turn, leads to more money for the state and local governments as employees pay income taxes on their income, sales taxes are collected on their purchases, and property taxes are collected on capital improvements.
Sponsoring Representative Jerry Nolte believed in the vision from the start and quickly agreed to sponsor the legislation. The bill, HB 1639, would provide a rate reduction for corporations AND a deduction for businesses that report business income on individual returns, such as S Corporations, LLC’s, LLP’s, partnerships, sole proprietors, etc. Every business would get the same percentage cut. Taxes would be reduced by 10% the first year, and if income tax collections continue to grow, 10% would be cut each year over the next four years. Taxex could be reduced by as much as 50% over five years!
As everyone knows, this is a tight budget year, so few gave our idea a chance of passage this year. Through the hard work of Representative Jerry Nolte and help from Senator Chuck Purgason and Senator Eric Schmitt, the bill is still alive on this, the last day of the legislative session. Come to our legislative update luncheon and I will tell you the full story, but believe me, it is nothing short of a miracle that the bill is still alive at this point.
WE NEED YOUR HELP NOW! The bill is likely to be taken up in the Senate THIS MORNING. Please use the links below to find your Senator and Representative and CALL their office NOW. Let them know you support HB 1639, the AIM Broad-Based Tax Relief Act of 2012. A few minutes of your time this morning could benefit your business for years to come! The bill is being handled in the Senate by Senator Chuck Purgason and is sponsored in the House by Representative Jerry Nolte. THANK YOU for your support of Associated Industries of Missouri and our work on your behalf.
Using a simple two-step process, you can quickly find your Senator and Representative:
STEP ONE: Click the following link to find your 9-digit ZIP code (if you already know your 9-digit ZIP code, skip to STEP TWO): https://tools.usps.com/go/ZipLookupAction!input.action
STEP TWO: Then, click here to use your 9-digit ZIP code to find your legislators: http://www.senate.mo.gov/llookup/leg_lookup.aspx
Comments