TOPEKA, Kan. (WIBW) – The National Federation of Independent Business in Kansas has asked Kansas Legislators to step in as uncertainty for the future rises in the wake of the COVID-19 pandemic.
The National Federation of Independent Business in Kansas says it was one of several groups to sign a letter to urge the Kansas Congressional delegation to not raise revenue pay for legislative priorities on the backs of small business owners. It also reminded the delegation that the tax increases currently being discussed would be detrimental to investments needed to continue growing both in the state and across the country.
The NFIB also said it opposes proposals to repeal stepped-up basis and impose additional capital gains at death of date.
“Elimination of stepped-up basis at death will lead to devastating tax liabilities for individuals who inherit a business or farmland and issue a crushing blow to many family-owned businesses who are looking to continue…