Small and Local Businesses

The Fair Share Amendment, Question 1 on the November ballot, is good for local businesses. 

 

Better preK-12 schools, colleges, transit, and roads help improve the economy for everyone. Local businesses in Massachusetts depend on a well-educated workforce, a reliable transportation system so employees and customers can get to their locations, and a strong economy.

 

When the very rich pay their fair share, we can improve transportation and public education statewide—and that’s good for everyone.

 

Only people who earn more than $1 million a year in personal income will be impacted by Question 1; 99% of us, including small businesses owners, won’t pay a penny more.

 

And $2 billion a year, every year, in revenue for education and transportation will create better economic opportunities for Massachusetts residents and well-maintained transportation infrastructure. That will attract new businesses to Massachusetts and help existing businesses to grow and thrive.

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Leise Jones Photography, Boston

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Democracy Brewing, Boston

Meet Cambridge Naturals, a proud endorser of Question 1!

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For Example: Donna


Donna is the sole-owner of a construction firm with $3 million in annual revenue. The businesses’ costs in a typical year are $2.7 million, including payroll for 25 skilled employees trained at a local vocational school, rent, equipment, and other expenses.

 

The company’s annual profit is $300,000 – which is passed through to Donna as the sole proprietor. She also receives a salary of $220,000 a year that – combined with the net income from the construction company – gives her an annual income of $520,000.

 

Because she earns less than $1 million in personal income, Donna won’t pay any more under the Fair Share Amendment, but she and her business would benefit from the transportation infrastructure it will help fund, and the well-educated students it will help prepare for future jobs.


And in the case of selling a business, you’d have to sell a business for much more than a million dollars to be affected by the Fair Share Amendment. When a business is sold, tax is paid only on the increase in the value of a business between when it was purchased and when it was sold—not its current valuation.

 

Additionally, the seller can subtract many deductions from their taxes, including the cost of major investments like property or equipment. This all makes the likelihood that someone would be taxed more on a business sale of over $1 million extremely low. And if someone earns enough from selling a business to have more than a million dollars in annual income, they can afford to pay a little extra so that we’ll all benefit from a stronger economy.

Have questions about the effects on local businesses of Question 1’s tax on annual personal income above $1 million? Read on.

Question 1 adds a tax only on personal income over $1 million – business taxes would not increase. It doesn’t matter how much revenue or profit a business has: only business owners or shareholders who earn more than $1 million in personal income in a single year will pay more, regardless of their business’ revenues or profits.

Less than 3 percent of businesses owners in Massachusetts have taxable personal income over $1 million that would be subject to the Fair Share Amendment.
Young Business Owner

Meet the businesses moving Massachusetts forward.

  • 40 South St. Vintage, Boston

  • Acorn Business Advisor, Grafton

  • All She Wrote Books, Somerville

  • Amherst Books, Amherst

  • Apex Noire, Boston

  • Asamass Trading, Worcester

  • Bedlam Book Cafe, Worcester

  • Belltower Records, North Adams

  • Boston Black News, Boston

  • Brewer Banner, New Bedford

  • Brothers Kafe Kreyol, Everett

  • Cambridge Local First, Cambridge

  • Cambridge Naturals, Cambridge

  • Caravan Kitchen, Northampton

  • Chill Out First Class Limo Service Inc

  • Chuck Talley Illustrations, New Bedford

  • Coffee Liberation Front, Adams

  • Democracy Brewing, Boston

  • dNB Craft Kitchen, New Bedford

  • Fairhaven Yacht, Fairhaven

  • Flint Fruit and Variety, Fall River

  • Foxtrot Farm LLC, Shelburne

  • Hartley's Original Pork Pies, Fall River

  • Henna Inspired, Malden

  • House of Art and Craft, Boston

  • KrafTea Kombucha, Worcester

  • La Perle Restaurant, Everett

  • Leise Jones Photography, Boston

  • Micky's Hair Design, Everett

  • N.P. Hayes LLC, New Bedford

  • Neighborhood Produce, Somerville

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  • New Bedford Noodle Bowl, New Bedford

  • Panda's Playcare Family Childcare, Boston

  • Peace Train Tees, Pittsfield

  • Porter Square Books, Cambridge

  • Punk Rock Aerobics, Boston

  • Purveyor of the Unnecessary & the Irresistible

  • Radio Concorde, Boston

  • Red Sun Press, Boston

  • Rosaline's Skin Care & Spa, Brookline

  • Rosetta Languages, Malden

  • Sanctum Folklorica, New Bedford

  • Simple Gifts Farm, Amherst

  • Talk of the Town Barber, Fall River

  • Teletronics Broadway, Everett

  • The Island, Malden

  • Tibari Travel, Everett

  • Tipping Cow Ice Cream, Somerville

  • TL6 The Gallery, New Bedford

  • Tony's Barber Shop, Malden

  • Wah Lum Kung Fu & Tai Chi Academy, Malden

Question 1
 benefits local businesses.

More than


MA business owners have endorsed the Fair Share Amendment.

50

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Wah Lum Kung Fu & Tai Chi Academy
Malden

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Young Business Owner
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