Tax Breaks for Smaller Businesses in the Works

Intro: Smaller businesses received some good news with the passage of a bill through the House that would eliminate them from the state's corporate franchise tax. RunTime:0:38
OutCue: SOC

The bill would eliminate the franchise tax for businesses with assets less than $10 million. As of now, small businesses with assets less than $1 million are taxed.

Bill sponsor Republican Representative Mike Sutherland says the bill would relieve small businesses, which already have to pay corporate income taxes and property taxes, from double taxation.

Actuality: SUTHER1.WAV
Run Time: 00:18
Description: This tax has been referred to as a tax just for the privilege to pay more taxes. And so I think it's something that should definitely be eliminated. It is a form of double taxation and would help to spur our economy in our state and give relief to small businesses in our state.

Unlike Sutherland, Democratic Representative Jeff Roorda says the bill is a form of Reaganomics.

Actuality: ROORDA1.WAV
Run Time: 00:27
Description: I think it's Reaganomics at its worse. It's inspired by the belief that giving money away to the wealthiest business owners in our state creates jobs and trickles down into the rest of the economy. I don't know about you Mr. Speaker but it's pretty dry down here where I am. We're still waiting after the last 29 years for something to start trickling down. All that's trickled down is economic recession.

Along with Representative Roorda, Democratic Representative J.C. Kuessner says the bill is going to force someone to pick up the bill.

Actuality: KUESS1.WAV

Run Time: 00:13

Description: Somebody has to pick up this tab. It's immediately going to go into effect in 2010. It's going to reduce our revenue coming into the state by around $10 million. By doing so, someone's going to have to pick that up. Something's going to have to be cut.

Although it has its critics, the bill passed through the house with an overwhelming majority. Reporting from Jefferson City, I'm Rebecca Layne... KSMU.

Intro: Smaller businesses received some good news with the passage of a bill through the House that would eliminate them from the state's corporate franchise tax.

RunTime:0:43
OutCue: SOC

The bill would eliminate the franchise tax for businesses with assets less than $10 million. As of now, small businesses with assets less than $1 million are taxed.

Bill sponsor Republican Representative Mike Sutherland says the bill would relieve the more than 12,000 small businesses around the state.

Actuality: SUTHER1.WAV

Run Time: 00:18

Description: This tax has been referred to as a tax just for the privilege to pay more taxes. And so I think it's something that should definitely be eliminated. It is a form of double taxation and would help to spur our economy in our state and give relief to small businesses in our state.

The bill passed through the House with an overwhelming majority. Reporting from Jefferson City, I'm Rebecca Layne ... KSMU.

Intro: Small businesses will get a break from the franchise tax if a bill that passed through the House makes it through the Senate. RunTime:0:45
OutCue: SOC

The bill, which passed through the House with a majority vote, would eliminate small businesses that have assets less than $10 million from the corporate franchise tax.

Democratic Representative Jeff Roorda says the bill is a form of Reaganomics.

Actuality: ROORDA1.WAV

Run Time: 00:27

Description: I think it's Reaganomics at its worse. It's inspired by the belief that giving money away to the wealthiest business owners in our state creates jobs and trickles down into the rest of the economy. I don't know about you Mr. Speaker but it's pretty dry down here where I am. We're still waiting after the last 29 years for something to start trickling down. All that's trickled down is economic recession.

Reporting from Jefferson City, I'm Rebecca Layne... KSMU.