Letter: If the state needs money, here’s a loophole to close

Our state has a revenue problem. Here’s a loophole that should be closed.

I have a small consulting business. I just received my B & O tax reporting paperwork. According to the various charts, my tax should be $471. However, I am entitled to a Small Business Tax Credit equal to the amount of the tax, and thus owe nothing. Since it probably cost the state at least $25 to send me the paperwork, the taxpayers are in the red regarding my tax liability. I’m not going to hire any employees with the $471, and I would be happy to pay the tax, in order to do my part to support a civilized society.

This loophole should be eliminated for micro-businesses like mine. The problem is that “small business” is a sacrosanct concept for all politicians. I have made this suggestion to all of my District 8 elected representatives, and they never even bothered to reply. Let’s move the threshold for the SBTC up to a level where the benefit would mean an additional job in our community, and use the new revenue to support our schools or other necessary social services.

This story was originally published January 3, 2018 at 3:02 PM with the headline "Letter: If the state needs money, here’s a loophole to close."