Single Business Tax

Official Policy
March 28, 2006

The Chamber supports the termination of the Single Business Tax (SBT).  Any replacement revenue source should strive to achieve the following criteria: 

1.  Simple to understand and compute, and for the State to administer.
2.  Fairly applied with appropriate adjustments to support strategic initiatives.

At such time as the SBT is eliminated, either by introduced or initiated legislation or by popular vote, then the Legislature and Governor must approve and implement a fiscal replacement plan by the time the tax is eliminated.