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.
WGN News Highlights Policy Change for Vacant Storefronts
Help Us Reduce Vacancies in Local Communities! SBAC INSIGHTS PAGE WGN News Highlights Policy Change for Vacant Storefronts Vacant storefronts litter neighborhood business districts in disinvested communities, causing blight, impacting safety, and depressing economic activity. Because of the negative impact of vacant properties in neighborhoods across the city, a robust coalition of chambers and place-based…
Proposed Updates to Chicago’s Retailer and Food Vendor Rules
Visit the BACP website SBAC INSIGHTS PAGE Proposed Updates to Chicago’s Retailer and Food Vendor Rules The Department of Business and Consumer Affairs (BACP) has published proposed updates to the City of Chicago’s Retailer Rules. The Department has also introduced certain rules for food vendors. BACP is accepting public comments until February 26, 2024,…
The Debate Over The Chicago Real Estate Transfer Tax
Download pdf here SBAC INSIGHTS PAGE Register for the SBAC Informational Webinar: The Chicago Real Estate Transfer Tax HERE. The Debate Over The Chicago Real Estate Transfer Tax Chicago is a tremendous city with a proud tradition. Our great city, however, faces multiple challenges, including persistent economic headwinds and an increase in homelessness. Economic development…
