Small businesses in Illinois, who suffer from some of the highest taxes in the nation, stand to benefit from a state senator’s legislation to alter tax deductions. The bill utilizes an IRS-approved method to allow pass-through entities to bypass the $10,000 cap on the State and Local Tax, or SALT, deduction. Senator Syverson, who is a co-sponsor of the proposal,
Speaking on behalf of the business and medical communities in his district, Senator Syverson issued a letter to urge Gov. Pritzker to veto the prejudgment interest bill that was passed during the waning hours of the “lame-duck” session in January. House Bill 3360 allows plaintiffs who win a personal injury or wrongful death case in court to be paid their
On behalf of the restaurants, retailers and businesses in the 35th Senate District, State Senator Dave Syverson is speaking out against a specific component of Gov. Pritzker’s Fiscal Year 2022 budget proposal. In his budget plan, the Governor recommends reducing the Retail Discount, a critical mechanism in place that only partially reimburses our business community for collecting and transferring Illinois’
Prioritizing those hit hardest throughout the COVID-19 pandemic, the Small Business Administration began accepting applications on Feb. 24 from businesses with fewer than 20 employees for the federal Paycheck Protection Program (PPP). Those who meet the criteria have until March 10 to apply. The PPP provides loans to help businesses keep their workforce employed during the COVID-19 crisis. For more
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