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Proposed Indiana Senate Bill 2 could allow small businesses to take larger tax deductions

Business journalist Jane King joined us from the NASDAQ this week to discuss Indiana Senate Bill 2 and other trends that could impact small businesses.

Under the proposed bill, small businesses would be able to claim an unlimited deduction for state tax payments on their federal tax returns. Currently, small businesses are limited to $10,000 of deductions, and this bill would allow them to have the same deductions as large corporations, King said.

She also discussed the results of a recent survey that measured small business owners’ feelings towards the federal government’s small business programs.

To connect with Jane King, click here.

For more information and business resources, listen to the Business, Equity & Opportunities podcast.