JACKSON — Ron Aldridge, Mississippi state director of the National Federation of Independent Business, has released a statement in response to Gov. Phil Bryant’s call to stop delaying the accelerated tax reduction as part of his proposed budget for fiscal 2014.
Aldridge wrote: “This would make a big difference to a lot of small businesses. By no longer delaying the increased threshold for paying the accelerated tax that the Legislature approved in 2007 and then delayed beginning in 2008, the Legislature would greatly ease the financial pressure on small businesses.”
“Small businesses have suffered enough. NFIB’s latest Small Business Optimism Index, released Tuesday, shows that small businesses are still recovering from the recession, with ‘weak sales’ still the No. 1 issue facing America’s small businesses. Here in Mississippi, this annual accelerated tax payment requirement means more than 1,700 small businesses have to pre-pay the state withholding, sales and use tax each summer.”
“If the Legislature approves the governor’s recommendation to stop delaying what should have never been done in the first place, it’s going to remove this annual cash-flow nightmare and make it easier for small businesses to get back on their feet and keep people employed. And when small businesses are unleashed from such burdens, they’re better able to do what they do best — create Mississippi jobs. We can all agree our state needs that to happen, and we are fortunate that our governor gets it.”