September 8, 2014
By Jan Meekcoms
(Originally published in Salem Business Journal)
It’s an election year, which means it’s time to drag the old tax-reform issue out of the attic and blow the cobwebs off of it.
Just how important are tax issues to small business? In a survey of small businesses ranking 75 issues of concern for small businesses, federal and state tax issues occupy 5 of the top 10 items on the list. According to the April 2014 Small Business Economic Trends report, 21 percent of small business cited taxes as the single most important problem facing them today.
The Small Business Administration of Advocacy estimates it costs small businesses 206 percent more to comply with the tax code than it cots their larger counterparts. Small businesses spend on average $74 per hour on paperwork associated with tax compliance.
Gov. John Kitzhaber is not the only politician seeking re-election to make tax reform a plank in his platform, but he’s the most influential, and, as a result, will be held the most accountable for his seriousness about it.
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