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BizReport : Research archives : April 15, 2015

Survey: SMBs want tax reform

Tax day is here and according to a majority of small businesses polled, they want reform. According to new data out from Endurance International Group about 90% of SMBs polled believe the federal tax code needs to be reformed.

by Kristina Knight

Why is reform needed? According to the survey just over half (63%) say online sales tax is an issue for their business while 55% believe online sales should not be taxed. About one-quarter (24%) believe online sales should only be taxed in the state where the business is located.

"The survey results are clear: U.S. small businesses want tax code reform and they want our federal lawmakers to enact reforms that make small business growth a priority," said Endurance CEO and Founder Hari Ravichandran. "If we want to keep our economy moving, Congress and the White House need to address the concerns of U.S. small businesses. It starts with looking at ways to reform the tax code that enable small business owners to reinvest in expansion and hiring. These survey results should be an eye-opener for federal legislators as they come back from the April recess."

Other interesting takeaways from the Endurance survey include:

• 88% say tax reform 'should be a priority' for the 114th Congress
• 88% 'don't believe' small business interests are considered by law-makers when considering tax reform
• 52% of SMBs believe tax reform would positively impact their business
• 72% say federal levies are 'more concerning' than state or local taxes

Image via Shutterstock

Tags: Endurance International Group, small business, SMB tips, SMB trends, tax tips, tax trends

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