HB 9 – Tax cut for small businesses

The Senate Committee Report for HB 9 is the enabling legislation for HJR 1. It offers tax relief to small business owners and entrepreneurs by raising the exemption on income-producing personal property from $2,500 to $125,000. This bill simplifies compliance, reduces bureaucratic costs, and incentivizes productivity. It cuts down on burdensome taxation that can stifle economic growth, especially for small operations. This is a pro-growth, pro-business reform that respects taxpayers and limits government overreach.