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!

Under Construction

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.

Get everything you need to know about exactly how to vote Yes on 1.

Young Business Owner

Meet the businesses moving Massachusetts forward.

  • 40 South St. Vintage, Boston

  • Acorn Business Advisor, Grafton

  • Adeline's Hair Salon, Everett

  • All She Wrote Books, Somerville

  • Almquist & Associates, Somerville

  • Amalgamated Bank, Boston

  • Amherst Books, Amherst

  • Apex Noire, Boston

  • Asamass Trading, Worcester

  • Avest Home Repair and Painting, Cambridge

  • Bedlam Book Cafe, Worcester

  • Belltower Records, North Adams

  • Boston Black News, Boston

  • Bread + Roses Bookshop and Cafe, Hyannis

  • Brewer Banner, New Bedford

  • Brothers Kafe Kreyol, Everett

  • Cafe Beirut, Jamaica Plain

  • Cambridge Local First, Cambridge

  • Cambridge Naturals, Cambridge

  • Caravan Kitchen, Northampton

  • Center Goods, Lexington

  • Ceramica Paint Studio, Stoneham

  • Chill Out First Class Limo Service Inc, Everett

  • Chuck Talley Illustrations, New Bedford

  • Coffee Liberation Front, Adams

  • Democracy Brewing, Boston

  • dNB Craft Kitchen, New Bedford

  • Fairhaven Yacht, Fairhaven

  • Fiore's Bakery, Jamaica Plain

  • Flint Fruit and Variety, Fall River

  • Foxtrot Farm LLC, Shelburne

  • Greenfield Solar, Greenfield

  • Hartley's Original Pork Pies, Fall River

  • Henna Inspired, Malden

  • Herrera's Mexican Grill, Boston

  • Hope and Feathers Framing, Amherst

  • House of Art and Craft, Boston

  • Irving House at Harvard, Cambridge

  • Katiejobelle’s Gifts, Randolph

  • Katy Rogers Photography, Everett

  • Kitchenwitch, Jamaica Plain

  • KrafTea Kombucha, Worcester

  • Kusiak Music, Arlington

  • La Perle Restaurant, Everett

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  • Leise Jones Photography, Boston

  • Mechanica, Newburyport

  • Micky's Hair Design, Everett

  • Montague Village Store, Montague

  • Monumental Market, Jamaica Plain

  • MVP Barber Shop, Jamaica Plain

  • N.P. Hayes LLC, New Bedford

  • Nadia Colburn: Align Your Story, Cambridge

  • Neighborhood Produce, Somerville

  • Nifty Nate's, Hyannis

  • Odyssey Bookshop, South Hadley

  • Panda's Playcare Family Childcare, Boston

  • Papercuts Bookshop, Boston

  • Peace Train Tees, Pittsfield

  • Pikliz International Kitchen, Somerville

  • Porter Square Books, Cambridge

  • Punk Rock Aerobics, Boston

  • Purveyor of the Unnecessary & the Irresistible, Boston

  • Radio Concorde, Boston

  • Red Sun Press, Boston

  • Rosaline's Skin Care & Spa, Brookline

  • Rosetta Languages, Malden

  • Said & Done Tattoo, Jamaica Plain

  • Sanctum Folklorica, New Bedford

  • Simple Gifts Farm, Amherst

  • Stand Up 8 Dance Studio, Malden

  • 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.

80

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Wah Lum Kung Fu & Tai Chi Academy
Malden

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Young Business Owner
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