The Biden administration on Thursday said few small-business owners would see their taxes increase under the president’s proposal to raise the top income tax rate for high earners. The White House issued a fact sheet highlighting a new Treasury Department analysis that found that less than 3 percent of small-business owners would be affected by Biden’s proposal to increase the top federal income tax rate from 37 percent to 39.6 percent. The analysis focused on small businesses filing as S-corporations and partnerships and on certain parts of individual income tax returns. The administration also said that 3.9 million small-business owners would receive tax cuts under Biden’s proposals to extend the…
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Norton voters support tax break for new business | Local News
NORTON — A large appliance store planning to move into the town’s new business park is getting a tax break. Residents at a special town meeting Monday night overwhelmingly approved the break for Yale Appliance, which had been located in the industrial park in Mansfield before moving to Stoughton. Eighty-one residents turned out for the rare summer town meeting held in the high school auditorium, and masks were required. Acting on the recommendation of local health officials, select board members voted Thursday night to require masks in all town buildings. Under the so-called Tax Increment Financing agreement, Yale Appliance and Condyne, the owner of Blue Star Business Park on Leonard…
