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.
Take the Community Survey!!
Click Here to take the Community Survey! Revitalize Local Businesses and Neighborhoods Thriving commercial corridors support local communities across Chicago and Cook County. Prior to the pandemic, however, many corridors struggled. As Chicago emerges from the pandemic and local communities confront a new economic landscape, a strong coalition of stakeholders is needed to advocate for…
Advocating for disadvantaged commercial corridors
SBAC President Elliot Richardson discusses a policy that will reduce vacant properties in struggling neighborhood business districts. Replacing commercial vacancies with small businesses will support local communities. Supporters Fifth Third Bank Saul Ewing Arnstein Lehr Inland Bank Ntiva Daily Herald Tandem HR Interprenet Signature Bank Lexitas Empower Korey Richardson Open One Solutions Freeborn and Peters…
BLOCK CITY CHICAGO REPORTS on Commercial Corridor Revitalization
BLOCK CITY CHICAGO REPORTS HYDE PARK, WOODLAWN, SOUTH SHORE Some Landlords Keep Their Storefronts Empty For Years – And Get Tax Breaks For It. Business Leaders Want To Change That Small business advocates want to limit the tax breaks property owners can get on vacant storefronts. On 79th Street, three in five storefronts were vacant…