Small Biz

The Impact of the FairTax on Small Business

Small businesses create a large effect in the U.S. economy.

Over five million strong, small businesses (those employing less than 20 people) account for 89 percent of all U.S. employers and employ over 20 million people, about 4.5 per business.1 All this, despite the adverse effects of the current tax system on small businesses. In the words of one small business owner, “Starting a small business means doing the one thing I love . . . and 99 that I hate. . . . A simpler, fairer, and growth-oriented tax code will ease the compliance burden on the small business owner – allowing them to again focus on the one thing they love.

National Small Business Association (NSBA) Endorses FairTax

In response to overwhelming sentiment calling for a simpler, more fair and efficient, and less intrusive system of taxation, NSBA became the first small-business organization to endorse the Fair Tax—a 23-percent, single rate, national retail sales tax which would be applied to the sale of all consumer goods and services at the final point of consumption. The Fair Tax ensures that every taxpayer will be subject to the same tax rate with no exceptions and no exclusions.

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