2.2.18
Suggested lead:
Four out of five businesses in Washington
state could be in for a nice surprise soon. Dan
Frizzell has more.
Wrap (:60 total):
LYTTON:
“Small businesses are struggling across our state, and what I hear over and over
is their struggle with paying B&O, that it's an unfair tax because it taxes on
the gross instead of taking into consider what it actually costs to run a
business.” [:13]
That's state Representative Kristine Lytton. The
Anacortes Democrat chairs the House Finance Committee, and this week she
introduced legislation that would eliminate the B&O tax for 80 percent of the
businesses in Washington state. Another 14 percent would pay what they currently
do, and the top six percent -- which includes some of the biggest businesses not
just in Washington or the U.S., but the world -- would see a surcharge on their
taxes. Lytton says her bill is revenue neutral, meaning the total revenue would
be the same, but thousands of small businesses would suddenly see a boost in
their bottom line.
LYTTON:
“This really about small businesses, small business entrepreneurs trying to
start up, and helping our communities be successful.”
[:07]
Lytton's bill, officially dubbed the Small Business Tax
Fairness Act, could go before the full House within a few days.
In Olympia, I’m Dan Frizzell.