Senator Bohacek: Tax Relief for Small Businesses

Wednesday, March 6, 2024 at 9:08 AM

Small-business owners are among the hardest-working Hoosiers in our state, and State Senator Mike Bohacek said in a recent release, “I want to do my part in supporting them.”

The senator continued, “That's why I voted in favor of Senate Bill 2 last week, which would level the playing field to allow small businesses to qualify for the same federal tax deductions that larger corporations already receive.” This change could amount to $50 million in federal tax savings for Indiana businesses.

In 2021, Indiana set a record for the most business filings in a year at 94,670 and was recently named the No. 1 state to start a business in 2023 by Forbes.

Senator Bohacek said, “Small businesses are the backbone of our communities, and I believe offering this targeted tax relief would make Indiana an even greater destination for small businesses and start-ups.”

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