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Featured Article filed under Independent Business | Written by Stacy Mitchell | 2 Comments | Updated on Oct 22, 2012

Six Small Business Issues at Stake in this Election

The content that follows was originally published on the Institute for Local Self-Reliance website at http://www.ilsr.org/small-business-issues-stake-election/

Here’s a look at six small business issues at stake in next month’s federal and state elections, including bank reform, corporate tax advantages, getting corporate money out of politics, capping credit card fees, and creating preferences for local businesses in government purchasing. Continue reading

Rule filed under Independent Business | Written by admin | 4 Comments | Updated on Jun 2, 2010

Closing State Corporate Tax Loopholes: Combined Reporting

The content that follows was originally published on the Institute for Local Self-Reliance website at http://www.ilsr.org/rule/combined-reporting/

Many retail chains earn profits at stores nationwide, but have developed an accounting scheme to evade paying their full share of state corporate income taxes. Tax experts believe the practice is costing states billions of dollars in lost revenue.  It has also given chains an advantage over locally owned businesses, which must pay state income tax on all of their earnings. Twenty-three states are not vulnerable to these tax-evasion schemes, because they have enacted a policy known as combined reporting. Continue reading

Article filed under Independent Business | Written by Stacy Mitchell | 3 Comments | Updated on Mar 6, 2008

More States Close Tax Loophole that Gives Chains an Edge

The content that follows was originally published on the Institute for Local Self-Reliance website at http://www.ilsr.org/more-states-close-tax-loophole-gives-chains-edge/

For years, chain retailers have exploited a loophole present in the tax laws of about half the states to escape paying billions of dollars in state income taxes. Efforts to close these loopholes have faced an uphill struggle, but the momentum may finally be shifting, thanks to research that has exposed the extent of the problem and its primary corporate beneficiaries, as well as new activism by independent business owners, who are breaking rank with powerful business groups to call for tax fairness. Continue reading