“Each year, about 360,000 individuals – or about 16 percent of all tax returns – report some sort of flow-through income, according to revenue department. Of those, only about 40,000, or 11 percent, would be affected by Dayton’s new tax plan – that is, people making more than $85,000 in after-tax income and couples making more than $150,000 in after-tax income.’
It is just flat out wrong to argue that a majority of businesses would be hit by Dayton’s proposed tax increases. I’m certain that local business owners are much more concerned about what the impact would be resulting from LGA cuts than they are about Dayton’s tax increase. The legislative session is nearly half over and we are still waiting for the Republican budget. Click below to read further.