It’s not every day that an innovative tax reform proposal also results in exposing one of the biggest political lies of the year. Yet that is exactly what has happened with the introduction of Senate Bill 1783, legislation introduced by State Senator Javan Mesnard.
Geared toward promoting small business growth and investment, SB 1783 would establish an optional, alternative small business tax code in Arizona. Under this proposal, policymakers would be able to craft and develop a tax code tailored specifically for small business owners, with an eye at setting competitive, pro-small business tax rates.
Exploring tax reform geared toward small business makes a lot of sense, especially since Arizona recently joined the ranks of other uncompetitive high tax states. Arizona currently has the 9th highest small business income tax rate, 11th highest state sales tax and 20th highest business property tax in the nation.