See this web site for more info:
Perry-Sharp Plan gives no meaningful tax relief and levies NEW tax on business!
The Perry-Sharp Plan proposes a 1/3 reduction in the school portion of property tax, but with no appraisal cap, we’ll back at today’s rate in no time. The most puzzling part of the plan is the totally unnecessary NEW tax on business. The Perry-Sharp Plan levies a 1% tax on business GROSS receipts, not net profit.
$1 million in gross receipts = $10,000 tax bill (regardless of your NET profit)
So if your company doesn’t turn a profit this year, like some companies have shared with our legislators, you’ll still owe 1% in taxes on your gross receipts!
This NEW tax on business will mean 100,000 new businesses will be subject to this additional tax and it will INCREASE taxes $3 billion when we have an $8.2 billion surplus! House Bill 1 uses a portion of the surplus to buy down property taxes and meets the Jun. 1 deadline without any NEW taxes. Contact your legislator today to ask them to support HB 1!
Contact your legislator here:
Capitol link here.
The VOTE on this disastrous NEW business tax is Monday!