With the enactment of the 2025-2027 Wisconsin State Budget, the legislature is in summer recess.  As the dust settles from a long budget process, we can start to unpack specific changes that were made to state law.

Let’s take a closer look at one of the more significant pieces of the budget bill: tax cuts.  With the state of Wisconsin facing a surplus of roughly $4 billion, NFIB advocated for a large portion of that surplus to be used for cutting taxes.  The final package resulted in three main provisions that will lower the tax burden by $1.5 billion.

The first provision will reduce income tax rates by expanding the second lowest tax bracket.  Specifically, individuals making more than $29,370 or couples making more than $39,150 will see the reduced tax rate.

Second, there is now a new exemption for all retirement income.  This piece will allow individuals age 67 or older to exclude up to $24,000 (or up to $48,000 for married-joint filers) of their income from state taxes.  Retirement income is based off the federal definition and includes common items like pension, IRA, and 401k income.

The final piece of the package eliminates the state 5% sales tax on residential natural gas and electricity.  The estimated savings to taxpayers is estimated to be about $178 million over the two-year budget biennium.

Overall, the budget represented a compromise between Republicans and Democrats.  It was passed and signed into law by Governor Evers in early July.

NFIB urged shoppers to support small, independent businesses while saving on back-to-school and preparedness items during the commonwealth’s recent sales tax holiday

From Friday, Aug. 1, through Sunday, Aug. 3, qualifying purchases including school supplies, clothing, footwear, hurricane preparedness items, and select Energy Star and WaterSense products were exempt from sales tax.

NFIB used the opportunity to remind Virginians of the importance of shopping small.

“This weekend was a chance for Virginia families to save money and support the small businesses in their communities,” said NFIB State Director Julia Hammond. “Local businesses are the heart of Virginia’s economy. They create jobs, help fund schools, and give back through donations and sponsorships.”

NFIB emphasized that shopping locally has a lasting economic impact. For every dollar spent at a small business, approximately 67 cents stays in the commonwealth, and another 50 cents is generated through employee wages and local supplier purchases.

“That kind of reinvestment strengthens our communities,” Hammond said. “Shopping at small businesses keeps dollars circulating close to home, which supports jobs and fuels additional growth.”

This year’s tax holiday came as many small businesses in Virginia continued to face economic uncertainty. According to NFIB’s latest Small Business Economic Trends report, the national Small Business Optimism Index dipped slightly in June to 98.6, just above its 51-year average. Top concerns include taxes, excess inventory, and unpredictable consumer demand.

“By choosing to shop local during the sales tax holiday, Virginians made a real difference,” Hammond said. “When we support small businesses, we’re investing in our neighbors, our communities, and our future.”

During Alabama’s recent sales tax holiday, NFIB encouraged shoppers to take advantage of the opportunity to save money while supporting locally owned small businesses.

The tax-free weekend, which ran from Friday, July 18, through Sunday, July 20, exempted certain purchases including clothing, school supplies, books, and computers from state sales tax. The exemption applied in most counties and municipalities, although some jurisdictions continued to collect local sales taxes.

NFIB State Director Rosemary Elebash said the tax holiday was a valuable chance for families to stretch their dollars and support the small businesses that are the backbone of Alabama’s economy.

“Small businesses create jobs, support our schools, and give back to their communities through donations and sponsorships,” Elebash said. “When you shop at a locally owned business, more of your money stays right here in Alabama, helping pay employees, buy supplies, and fuel additional economic activity.”

NFIB noted that for every dollar spent at a small business, an average of 67 cents remains in the local community. An additional 50 cents is generated through employee wages and other local purchases, creating a ripple effect that benefits the broader economy.

This year’s tax holiday came as many small businesses continue to navigate a challenging economic landscape. According to NFIB’s latest Small Business Economic Trends report, the national Small Business Optimism Index edged down slightly in June to 98.6—just above the 51-year average. Top concerns include taxes, inventory levels, and fluctuating consumer demand.

“Events like the sales tax holiday are a good reminder of the power of shopping small,” Elebash said. “They’re not just feel-good moments—they’re real opportunities to make a difference in your local economy.”

NFIB, the nation’s leading small-business advocacy organization, will present its Guardian of Small Business Award to state Sen. John Kennedy on Thursday in Macon.

The award will be presented during a small-business roundtable hosted by NFIB and the Community Bankers Association of Georgia. The event will be held from 11:30 a.m. to 1:45 p.m. at Fresh Air Bar-B-Que and is open to the media.

The Guardian of Small Business Award recognizes lawmakers who show outstanding leadership and support for small businesses. The NFIB Georgia Leadership Council, an advisory board made up of NFIB members, voted to honor Kennedy for sponsoring Senate Bills 68 and 69. Both laws help protect Georgia’s small businesses from abusive lawsuits.

SB 68 addresses two major legal concerns for small-business owners: phantom damages and premises liability. Phantom damages refer to the practice of seeking reimbursement for medical bills that were never actually paid. SB 68 allows juries to see the actual amount paid, not just the amount billed, so they can make better decisions about damages.

SB 69 takes aim at third-party litigation financing. This practice involves outside investors funding lawsuits in exchange for a share of any settlement. The new law requires these groups to register with the Georgia Department of Banking and Finance, bans them from influencing when or how a case is settled, and ensures jurors know who is funding the lawsuit.

“Georgia’s small businesses have waited a long time for meaningful lawsuit reform, and we’re very grateful to Sen. Kennedy for leading the way on these important changes,” NFIB State Director Hunter Loggins said. “These bills will help level the playing field, lower legal costs, and protect small-business owners from abusive lawsuits that hurt growth.”

“I’m proud to present this award to Sen. Kennedy on behalf of our members in Senate District 18 and across the state,” Loggins said.

On July 8, 2025, the Michigan Department of Labor and Economic Opportunity (LEO), in partnership with the Michigan Center for Employee Ownership (MICEO), launched a new $500,000 pilot program designed to expand access to employee ownership for Michigan’s businesses and workers. This new program comes at a pivotal time for small businesses in Michigan and across the country, as more and more owners are looking to retire but don’t have a plan for succession.

Employee ownership can be a great answer to that succession question. Through employee ownership, a small business can secure their legacy through workers gaining an ownership stake in the company, often through stock or equity. This also helps create an avenue for wealth building and job security for those employees who participate.
Exit planning is important not just for owners looking to retire, but for their small business and their community. It is something that has not been at the forefront of business owners’ minds. Nationwide, 75% of business owners plan to exit within the next 10 years, but only 34% have a documented and communicated succession plan. This leads to fewer than one third of business owners successfully selling their company.

This pilot program through the MICEO provides funding for feasibility studies, valuation services, legal services, and other support to assess the potential for employee ownership. Additionally, if you decide to apply but do not qualify for some reason, this department can help guide you through the process.

If you are interested in applying for the program, please visit the MICEO website for more information.

Starting in 2025, small business owners in Pennsylvania are required to file an annual report to the Pennsylvania Department of State. This is different from the federal beneficial ownership reporting requirements. This report is required by state law.

The fee for the new annual report is $7 for business corporations, limited liability companies (LLCs), limited partnerships (LPs), and limited liability general partnerships (LLPS), with a $0 fee for nonprofit corporations and any LPs or LLCs with a not-for-profit purpose.

The deadline for filing the annual report is based on the type of association:

The annual report must include information such as your business name, registered office address, names and titles of principal officers, and more.

For more information on annual reports, please visit dos.pa.gov/AnnualReports.

The Pennsylvania Office of Small Business Advocate (OSBA) is collecting data from small businesses with 250 or fewer employees regarding their utility services, including water, wastewater gas, electric, and telecommunications.

Watch here: Pennsylvania Office of Small Business Advocate Survey Video

Take the survey here!

The office says, “The PA Office of Small Business Advocate understands the importance for small businesses to receive safe, reliable, equitable, and affordable utility services, as well as the value of hearing directly from the small business community about its interactions with utilities…This information will give us the insight necessary to continue advocating for you effectively. We encourage you to complete the survey and share it with others who may benefit from participating. Your feedback is essential with ensuring you receive the utility services you need to sustain and thrive.”

NFIB Oregon presented its small-business-owning members a legislative recap of the 2025 session of the Oregon State Legislature through a Microsoft Teams virtual meeting on July 30.

In it, State Director Anthony Smith used 17 slides to show the wins, losses, and looming threats on key issues affecting every Oregon small-business owners right to own, operate, and grow their enterprises.

Couldn’t make it? Click here or on the graphic below to see the slides and send an email to Smith with any questions you have, anthony.smith@nfib.org.

NFIB thanks its members who made the event a success and reminds them to check their emails for future ones.

Related Web Story

• Oregon Legislature Adjourns 2025 Session.