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Pros And Cons Of Repealing The SBID

1341 Words6 Pages

Repealing the SBID could lead to an abundance of public outcry from the hundreds of thousands of small businesses that benefit from this tax break. Anytime you give something to a person, even if they don’t use it, they won’t want it to go away. This being said, there are examples of people putting the tax break to a good use and growing their businesses. But the simple truth is, there aren’t enough examples of that to justify the kind of impacts this is putting on the state.
Repealing the SBID is not the only solution. For example, Oregon has legislation similar to Ohio's SBID, but one big difference between the two is that in Oregon in order to qualify for the tax break you must employ at least one non-owner and be active in your business …show more content…

Nothing to sneeze at but I can’t hire someone for that. And If I need a printer or office supplies or software I just buy those things. I am not going to spend money just because I have it. That is bad business. And please notice that I had to estimate what my SBID was because it really doesn’t show up anywhere on my tax return. And if I can’t figure it out, neither can most of my clients.

My small business clients worry about paying their bills. They worry about payroll taxes. They stress about collecting and reporting sales tax. They really worry about having to provide health insurance coverage, and they worry about getting health care for themselves. A tax credit hidden inside their personal tax return is not going to be reinvested in the business; they don’t even know it is there.

Another long-term preparer I work with has pointed that not only is the SBID too expensive for Ohio, but that it is really unfair to Ohioans who are earning their incomes as wages. Why should I, as a business owner, not pay any Ohio tax, while my employees are paying Ohio tax? The whole point of a civilized society is that we all pitch in and work together and hopefully make life better for everyone. Like it or not, paying tax is part of that pitching in. An entire group of people should not be exempted from

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