Minnesota’s small business community is advocating for reduced taxes and regulations, as indicated by the latest survey from the National Federation of Independent Business (NFIB). The survey highlights the concerns of small business owners in Minnesota regarding high taxes and mandates that they believe hinder their operations.
“Minnesota small businesses owners have spoken. They are tired of high taxes and burdensome mandates that make it harder for them to keep their businesses open,” stated NFIB Minnesota State Director Jon Boesche. He emphasized that lawmakers should focus on reducing state spending, resisting tax increases, and opposing new employment mandates to support Main Street businesses.
The survey also gathered opinions from Minnesota small business owners on potential legislative issues for 2024. It revealed strong opposition to several proposals:
A significant 97% of respondents oppose taxing unrealized income, arguing that such a measure would negatively impact economic growth by discouraging investment.
Additionally, 86% support a constitutional amendment to limit state spending growth and mandate automatic refunds of surplus funds. This comes in response to concerns about unsustainable spending levels, highlighted by a nearly 40% budget increase in 2023.
Furthermore, 90% of participants are against mandatory workplace violence prevention plans and training for small businesses. They believe employers already take necessary steps to ensure safety and rely on law enforcement for public security.
Lastly, 84% favor capping local property tax levy increases at no more than 10 percent over five years. This measure aims to protect small business owners from substantial property tax hikes.
