Relates to businesses with fewer than twenty employees

Bill A 8752 would exempt the first $50,000 of taxable income for businesses employing 20 or fewer employees. This applies to all such businesses starting with taxable years beginning January 1, 2027, reducing the tax burden on their initial earnings. The exemption covers income subject to taxation under existing law, not all business revenue. The bill is currently referred to the Ways and Means committee.