Small Business Tax Proposal by the Biden's Administration

[WTH_Progs?]

The way this works is, first you shut as many down as possible preference Amazon, internet, China & such, then clobber them under the disguise of COVID. Then what you do is increase local & State taxes for entitlements, and throw in minimum wage desires & such. Then you raise gas prices 30% or so, put a stop on energy independence, demand plexi-glass & that, and then you propose a 28% federal tax on small business of what's currently 21%.

Biden tax increases threaten small businesses, experts warn

Small business owners have taken a hit from the coronavirus pandemic and now some experts are concerned that they may see their tax obligations rise as a result of potential increases proposed by President Biden.

www.foxbusiness.com

 

[Blackrook]

Yes, it looks like Biden intends to put our economy into a recession.

 

[DudleySmith]

Yes, well, Trump did away with the state and local tax deductions from the Fed returns, so it's not like the GOP is ever anybody's friends on the small business and working class demographics either. The middle class went in for the class warfare crap back in the 1980's, so I don't feel their pain; the dumbasses were too stupid to see who was next in line for looting after they sold out working class types to criminal illegal aliens and off-shoring, so they deserve every fucking they've gotten since then. One would think they would have learned their lessons but nah, they just eat more Prozac and snivel like little bitches, as if there is somebody out there who cares about their whining and will do something to save them or something.

 

[Desperado]

The Dems declare them non-essential then close them, Now they want to tax them? Biden is looking to kill small business in America.

 

[struth]

Yes, well, Trump did away with the state and local tax deductions from the Fed returns, so it's not like the GOP is ever anybody's friends on the small business and working class demographics either. The middle class went in for the class warfare crap back in the 1980's, so I don't feel their pain; the dumbasses were too stupid to see who was next in line for looting after they sold out working class types to criminal illegal aliens and off-shoring, so they deserve every fucking they've gotten since then.

He did that for individuals...there was never a deduction for businesses...he cut their rate though.

and while removing the deduction for individuals, he expanded the standard deduction, greatly and lowered their tax rate.

If you have a problem with your State tax rate, take it up with your State reps. Most citizens didn't have an issue with it, but folks living in lib controlled states like NY, NJ and Cali certainly did.

 

[DudleySmith]

Yes, well, Trump did away with the state and local tax deductions from the Fed returns, so it's not like the GOP is ever anybody's friends on the small business and working class demographics either. The middle class went in for the class warfare crap back in the 1980's, so I don't feel their pain; the dumbasses were too stupid to see who was next in line for looting after they sold out working class types to criminal illegal aliens and off-shoring, so they deserve every fucking they've gotten since then.

He did that for individuals...there was never a deduction for businesses...he cut their rate though.

and while removing the deduction for individuals, he expanded the standard deduction, greatly and lowered their tax rate.

If you have a problem with your State tax rate, take it up with your State reps. Most citizens didn't have an issue with it, but folks living in lib controlled states like NY, NJ and Cali certainly did.

I live in Texas; we get screwed in other ways. like franchise fees on businesses, outrageous utility rates, etc. Despite all the claims by 'conservatives' and the GOP here, Texas is not at all a 'business friendly' state, unless of course you're a big corporation and making the proper 'donations' and hiring the right worthless relatives; Biden isn't the only gangster out there with an overpaid dope head kid with a big title.

As for NY, NJ, and Cali. I don't mind them getting screwed at all. In fact, the FEd should be tacking on a $50,000 surtax on every citizen they claim as residents for deciding their Congressional seats.

 

[struth]

Xiden and the Dems want to destroy small business...it's that simple. They want a few hand picked, large businesses, working solely for the party.

 

[struth]

Yes, well, Trump did away with the state and local tax deductions from the Fed returns, so it's not like the GOP is ever anybody's friends on the small business and working class demographics either. The middle class went in for the class warfare crap back in the 1980's, so I don't feel their pain; the dumbasses were too stupid to see who was next in line for looting after they sold out working class types to criminal illegal aliens and off-shoring, so they deserve every fucking they've gotten since then.

He did that for individuals...there was never a deduction for businesses...he cut their rate though.

and while removing the deduction for individuals, he expanded the standard deduction, greatly and lowered their tax rate.

If you have a problem with your State tax rate, take it up with your State reps. Most citizens didn't have an issue with it, but folks living in lib controlled states like NY, NJ and Cali certainly did.

I live in Texas; we get screwed in other ways. like franchise fees on businesses, outrageous utility rates, etc. Despite all the claims by 'conservatives' and the GOP here, Texas is not at all a 'business friendly' state, unless of course you're a big corporation and making the proper 'donations' and hiring the right worthless relatives; Biden isn't the only gangster out there with an overpaid dope head kid with a big title.

As for NY, NJ, and Cali. I don't mind them getting screwed at all. In fact, the FEd should be tacking on a $50,000 surtax on every citizen they claim as residents for deciding their Congressional seats.

franchise fees, don't come from Govt, but from you know the franchiser.

and the utility rate in TX is pretty average compared to the rest of the nation...outside of lib run states..Y: Electricity Rates by State » (April 2021) « ElectricRate

 

[DudleySmith]

Yes, well, Trump did away with the state and local tax deductions from the Fed returns, so it's not like the GOP is ever anybody's friends on the small business and working class demographics either. The middle class went in for the class warfare crap back in the 1980's, so I don't feel their pain; the dumbasses were too stupid to see who was next in line for looting after they sold out working class types to criminal illegal aliens and off-shoring, so they deserve every fucking they've gotten since then.

He did that for individuals...there was never a deduction for businesses...he cut their rate though.

and while removing the deduction for individuals, he expanded the standard deduction, greatly and lowered their tax rate.

If you have a problem with your State tax rate, take it up with your State reps. Most citizens didn't have an issue with it, but folks living in lib controlled states like NY, NJ and Cali certainly did.

I live in Texas; we get screwed in other ways. like franchise fees on businesses, outrageous utility rates, etc. Despite all the claims by 'conservatives' and the GOP here, Texas is not at all a 'business friendly' state, unless of course you're a big corporation and making the proper 'donations' and hiring the right worthless relatives; Biden isn't the only gangster out there with an overpaid dope head kid with a big title.

As for NY, NJ, and Cali. I don't mind them getting screwed at all. In fact, the FEd should be tacking on a $50,000 surtax on every citizen they claim as residents for deciding their Congressional seats.

franchise fees, don't come from Govt, but from you know the franchiser.

Wrong. CAlifornia and Texas both charge franchise fees for busnesses.

Texas Franchise Tax Report: Everything You Need to Know to File

What is the Texas Franchise Tax? The Texas Franchise Tax is levied annually by the Texas Comptroller on all taxable entities doing business in the state. The tax is based upon the entity’s margin, and can be calculated in a number of different ways. Each business in Texas must file an Annual...

www.texasregisteredagent.net

What is the Texas Franchise Tax?

The Texas Franchise Tax is levied annually by the Texas Comptroller on all taxable entities doing business in the state. The tax is based upon the entity’s margin, and can be calculated in a number of different ways. Each business in Texas must file an Annual Franchise Tax Report by May 15 each year.

Who Must Pay the Franchise Tax?

• Corporations
• LLCs & Series LLCs
• Banks
• State Limited Banking Associations
• Savings and Loan Associations
• S-Corporations
• Professional Corporations
• All Partnerships
• Trusts
• Professional Associations
• Business Associations
• Joint Ventures
• Other Legal Entities

State business codes here make every business a franchise. There are legal reasons for dong so, none of them beneficial to small businesses or sub-contractors, but great for illegal aliens and the employers who love them.

 

[struth]

Yes, well, Trump did away with the state and local tax deductions from the Fed returns, so it's not like the GOP is ever anybody's friends on the small business and working class demographics either. The middle class went in for the class warfare crap back in the 1980's, so I don't feel their pain; the dumbasses were too stupid to see who was next in line for looting after they sold out working class types to criminal illegal aliens and off-shoring, so they deserve every fucking they've gotten since then.

He did that for individuals...there was never a deduction for businesses...he cut their rate though.

and while removing the deduction for individuals, he expanded the standard deduction, greatly and lowered their tax rate.

If you have a problem with your State tax rate, take it up with your State reps. Most citizens didn't have an issue with it, but folks living in lib controlled states like NY, NJ and Cali certainly did.

I live in Texas; we get screwed in other ways. like franchise fees on businesses, outrageous utility rates, etc. Despite all the claims by 'conservatives' and the GOP here, Texas is not at all a 'business friendly' state, unless of course you're a big corporation and making the proper 'donations' and hiring the right worthless relatives; Biden isn't the only gangster out there with an overpaid dope head kid with a big title.

As for NY, NJ, and Cali. I don't mind them getting screwed at all. In fact, the FEd should be tacking on a $50,000 surtax on every citizen they claim as residents for deciding their Congressional seats.

franchise fees, don't come from Govt, but from you know the franchiser.

Wrong. CAlifornia and Texas both charge franchise fees for busnesses.

Texas Franchise Tax Report: Everything You Need to Know to File

What is the Texas Franchise Tax? The Texas Franchise Tax is levied annually by the Texas Comptroller on all taxable entities doing business in the state. The tax is based upon the entity’s margin, and can be calculated in a number of different ways. Each business in Texas must file an Annual...

www.texasregisteredagent.net

What is the Texas Franchise Tax?

The Texas Franchise Tax is levied annually by the Texas Comptroller on all taxable entities doing business in the state. The tax is based upon the entity’s margin, and can be calculated in a number of different ways. Each business in Texas must file an Annual Franchise Tax Report by May 15 each year.

Who Must Pay the Franchise Tax?

• Corporations
• LLCs & Series LLCs
• Banks
• State Limited Banking Associations
• Savings and Loan Associations
• S-Corporations
• Professional Corporations
• All Partnerships
• Trusts
• Professional Associations
• Business Associations
• Joint Ventures
• Other Legal Entities

ah we just call those State business taxes where I am from. Sounds like it Texas the rate you pay is based on what margins the business itself sets

 

[DudleySmith]

Yes, well, Trump did away with the state and local tax deductions from the Fed returns, so it's not like the GOP is ever anybody's friends on the small business and working class demographics either. The middle class went in for the class warfare crap back in the 1980's, so I don't feel their pain; the dumbasses were too stupid to see who was next in line for looting after they sold out working class types to criminal illegal aliens and off-shoring, so they deserve every fucking they've gotten since then.

He did that for individuals...there was never a deduction for businesses...he cut their rate though.

and while removing the deduction for individuals, he expanded the standard deduction, greatly and lowered their tax rate.

If you have a problem with your State tax rate, take it up with your State reps. Most citizens didn't have an issue with it, but folks living in lib controlled states like NY, NJ and Cali certainly did.

I live in Texas; we get screwed in other ways. like franchise fees on businesses, outrageous utility rates, etc. Despite all the claims by 'conservatives' and the GOP here, Texas is not at all a 'business friendly' state, unless of course you're a big corporation and making the proper 'donations' and hiring the right worthless relatives; Biden isn't the only gangster out there with an overpaid dope head kid with a big title.

As for NY, NJ, and Cali. I don't mind them getting screwed at all. In fact, the FEd should be tacking on a $50,000 surtax on every citizen they claim as residents for deciding their Congressional seats.

franchise fees, don't come from Govt, but from you know the franchiser.

Wrong. CAlifornia and Texas both charge franchise fees for busnesses.

Texas Franchise Tax Report: Everything You Need to Know to File

What is the Texas Franchise Tax? The Texas Franchise Tax is levied annually by the Texas Comptroller on all taxable entities doing business in the state. The tax is based upon the entity’s margin, and can be calculated in a number of different ways. Each business in Texas must file an Annual...

www.texasregisteredagent.net

What is the Texas Franchise Tax?

The Texas Franchise Tax is levied annually by the Texas Comptroller on all taxable entities doing business in the state. The tax is based upon the entity’s margin, and can be calculated in a number of different ways. Each business in Texas must file an Annual Franchise Tax Report by May 15 each year.

Who Must Pay the Franchise Tax?

• Corporations
• LLCs & Series LLCs
• Banks
• State Limited Banking Associations
• Savings and Loan Associations
• S-Corporations
• Professional Corporations
• All Partnerships
• Trusts
• Professional Associations
• Business Associations
• Joint Ventures
• Other Legal Entities

ah we just call those State business taxes where I am from. Sounds like it Texas the rate you pay is based on what margins the business itself sets

Hence the term 'Franchise'. I'm also not sure if such a state tax structure would still be deductible under the Fed rules, though, so maybe it is still better than a state income tax, don't know since I don't run a business here any more so I haven't had to file for a while.. I know in California it was designed to screw the little guys royally while giving huge breaks to the wealthy, particularily on real estate.

 

[struth]

Yes, well, Trump did away with the state and local tax deductions from the Fed returns, so it's not like the GOP is ever anybody's friends on the small business and working class demographics either. The middle class went in for the class warfare crap back in the 1980's, so I don't feel their pain; the dumbasses were too stupid to see who was next in line for looting after they sold out working class types to criminal illegal aliens and off-shoring, so they deserve every fucking they've gotten since then.

He did that for individuals...there was never a deduction for businesses...he cut their rate though.

and while removing the deduction for individuals, he expanded the standard deduction, greatly and lowered their tax rate.

If you have a problem with your State tax rate, take it up with your State reps. Most citizens didn't have an issue with it, but folks living in lib controlled states like NY, NJ and Cali certainly did.

I live in Texas; we get screwed in other ways. like franchise fees on businesses, outrageous utility rates, etc. Despite all the claims by 'conservatives' and the GOP here, Texas is not at all a 'business friendly' state, unless of course you're a big corporation and making the proper 'donations' and hiring the right worthless relatives; Biden isn't the only gangster out there with an overpaid dope head kid with a big title.

As for NY, NJ, and Cali. I don't mind them getting screwed at all. In fact, the FEd should be tacking on a $50,000 surtax on every citizen they claim as residents for deciding their Congressional seats.

franchise fees, don't come from Govt, but from you know the franchiser.

Wrong. CAlifornia and Texas both charge franchise fees for busnesses.

Texas Franchise Tax Report: Everything You Need to Know to File

What is the Texas Franchise Tax? The Texas Franchise Tax is levied annually by the Texas Comptroller on all taxable entities doing business in the state. The tax is based upon the entity’s margin, and can be calculated in a number of different ways. Each business in Texas must file an Annual...

www.texasregisteredagent.net

What is the Texas Franchise Tax?

The Texas Franchise Tax is levied annually by the Texas Comptroller on all taxable entities doing business in the state. The tax is based upon the entity’s margin, and can be calculated in a number of different ways. Each business in Texas must file an Annual Franchise Tax Report by May 15 each year.

Who Must Pay the Franchise Tax?

• Corporations
• LLCs & Series LLCs
• Banks
• State Limited Banking Associations
• Savings and Loan Associations
• S-Corporations
• Professional Corporations
• All Partnerships
• Trusts
• Professional Associations
• Business Associations
• Joint Ventures
• Other Legal Entities

ah we just call those State business taxes where I am from. Sounds like it Texas the rate you pay is based on what margins the business itself sets

Hence the term 'Franchise'. I'm also not sure if such a state tax structure would still be deductible under the Fed rules, though, so maybe it is still better than a state income tax, don't know since I don't run a business here any more so I haven't had to file for a while.. I know in California it was designed to screw the little guys royally while giving huge breaks to the wealthy, particularily on real estate.

Well I have my own business and it's not a franchise, so that was my confusion. I pay taxes locally, the way Texas outlined it...and corp taxes to the state and a flat rate. My individual taxes are not paid out of my business, but I pay real estate and personal property at a flat rate to the state...as well as an individual state income tax....of course this is in addition to Federal taxes.

 

[Hang on Sloopy]

Yes, it looks like Biden intends to put our economy into a recession.

Better hope it is only that.