The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, has released two new digital tools to help small business owners, policymakers, and the public in New York understand the significant economic impact of the 20% Small Business Tax Deduction and what’s at stake if Congress fails to make it permanent.
The new tools include an interactive map that allows users to explore how extending the Small Business Deduction would power job creation and GDP growth in every congressional district across New York.
NFIB also launched a tax calculator to provide small business owners in New York with personalized estimates of how much more they could owe in federal income taxes in 2026 if the deduction expires.
View the interactive map at https://www.nfib.com/tcja-state/ny/ and the calculator at ttps://www.nfib.com/calculator/.
“These new tools give small business owners and elected leaders in New York real data about the economic stakes,” said Ashley Ranslow, state director for NFIB in New York. “If Congress fails to act, millions of small businesses across the country – including right here in New York – will face a massive tax hike. That means fewer jobs, less investment, and slower growth for our communities. We urge Congress to make the 20% Small Business Tax Deduction permanent.”
According to NFIB’s interactive map, if the deduction is extended, New York could see an increase of 137,738 jobs and $12,581,000,000 in GDP over the next decade. The district-level data allow lawmakers and local leaders to understand exactly how small businesses in their communities stand to gain when the tax deduction is made permanent – or lose if it is not.
The tax calculator helps individual small business owners project their potential tax increase if the deduction is not extended. For example, a New York small business owner with a personal income of $75,000 and qualified business income of $150,000 could see a tax increase of more than $13,000, depending on their full financial profile.
To explore the tools and learn more about how NFIB is working to protect New York’s small businesses, visit: http://www.SmallBusinessDeduction.com
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