Arizona SMBs feel slighted by new tax incentives

4/14/2011

Lawmakers in Arizona are looking to provide even more tax incentives for businesses. However, some small business owners feel the bill is geared only for companies that can invest a lot of money into the state through new construction projects, which excludes SMBs from the benefits.

The bill, if approved, would give a 10-year tax break to companies that spend big money on new construction or state improvement projects. For example, to be eligible, companies in the Maricopa and Pima counties would have to spend upward of $5 million.

"I represent 7,500 companies and small business owners who are here in Arizona, who have already made their investment and who have soldiered through the recession," Farrell Quinlan, state director of the Arizona chapter of the NFIB, told the source. "Those businesses aren't likely to make the big-dollar investments needed to qualify for the property tax break."

While small business lending is improving, companies still need all the relief they can get. Legislation should look to help small businesses, as they add a tremendous number of jobs to local communities.