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The REST Act Supports Small Businesses! (H.R.3725)

The REST Act Supports Small Businesses! (H.R.3725)

The SBAC is strongly supporting legislation filed by Representative Newman designed to cut taxes on entrepreneurs and small businesses across the country. The Relief and Equity for Small Businesses through Tax (REST) Act adjusts Section 199A of the Internal Revenue Code to increase the deduction of qualified business income from 20% to 25% for business owners making less than $100,000 in taxable annual income.

Simply put, this means entrepreneurs that generate less than $100,000 in income will pay fewer taxes so they can grow their businesses.

Read Congresswoman's Marie Newman's Press Release HERE.

Insights Archive

Support Chicago Small Businesses By Reducing Red Tape

By natalia.borowska | May 17, 2024

Download PDF here SBAC INSIGHTS PAGE Aldermanic Endorsements: Alderman Anthony Beale Alderman Desmond Yancy Alderman Mike Rodriguez Alderman Nicholas Sposato Alderman William Hall Alderwoman Leni Manaa-Hoppenworth SBAC INSIGHTS PAGE

Policy Committee Contact Information

By emma@sbacil.org | May 16, 2024

Policy Committee Contact Information: Alona Anspach alona.anspach@ihtwm.com Beth Kregor bkregor@ij.org Cathie Van Wert cathie@doubletakedesign.com Chris Lautenslager chris@get-looped.com Chris Allen callen@wshscpa.com Chuck Scharenberg chuck@moreprofitmorefreedom.com Danielle Petty DANIELLE@LTCONSULTLLC.COM Dean Alonis Dean.alonis@gmail.com DeRondal Bevly derondal@rubyrosestrategies.com Diana Cafi dcafi@healthproinnovation.com Gina Lipscomb gina@rjlipscomb.com Heather Jones hjones@vopf.com Ian Tobin ian@lincolnsquare.org Isaac Troncoso isaactroncoso5@gmail.com Ivy Walker ivy@askcoda.com James Smith jim@jdshomes.net Jeff Van…

What Chicago Retailers Should Know About The Kiosk Ordinance

By emma@sbacil.org | May 6, 2024

SBAC INSIGHTS PAGE An ordinance has been filed which will impose a tax on retailers that use automated self-checkout kiosks. This ordinance taxes retailers $20,000.00 for each automated self-checkout kiosk operated at their establishment. The burden for paying this tax cannot be shifted onto customers. There are record-keeping requirements and other rules set forth by…

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