Leah Long NFIB State Director | Official Website
Leah Long NFIB State Director | Official Website
The National Federation of Independent Business (NFIB) has called on Governor Reeves to approve House Bill 531, a piece of legislation designed to alleviate financial pressures on small businesses in Mississippi by reducing taxes. The bill successfully passed both the House and Senate.
NFIB State Director Dawn McVea commented on the significance of this development: "This is a big victory for Mississippi’s small businesses, which are struggling with a spike in fuel prices and soaring inflation." She noted that while their members had hoped for the complete elimination of state income tax, HB531 represents progress by eliminating the 4 percent tax bracket entirely and reducing the 5 percent bracket to 4 percent by 2026.
McVea emphasized that these changes would benefit many small businesses in Mississippi, as they are typically organized as pass-through entities. This means that owners pay taxes at an individual rate rather than a corporate one.
She expressed gratitude towards legislative leaders: “We want to thank House and Senate leaders for working together to reach this compromise and urge Governor Reeves to sign it into law.”
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