As the head of one of the largest banks in Arkansas, I am intimately familiar with the Federal Tax Code and its impact on businesses in our state. Making the tax code simpler, fairer and more logical will also generate the kind of real economic growth we desperately need in this country.
We all know how complicated the tax code is — so complicated, in fact, that huge numbers of private citizens feel compelled to seek out professional help or use expensive tax-preparation software to file, just so they don’t run afoul of the Internal Revenue Service. For businesses, it’s an even worse situation.
Not only do business owners need to contend with their personal taxes, they must also deal with the even more complicated process of filing their businesses’ taxes. In both cases, individuals and businesses must take on significant administrative overhead costs as a result of our painfully complicated tax system.
Read the full article by Main Street Growth & Opportunity Coalition Arkansas Steering Committee Member Sam T. Sicard