Tax breaks for small businesses facing higher insurance costs

Provides corporation business tax credits and gross income tax credits to small business employers and farm employers for increases in certain mandatory employer contributions.

Introduced· 2026-01-13

Who's it for

Who's it for: Small businesses and farms

What it means for you

5/10Mixed

Mixed: some good, some bad ·

Cost shift

Plain‑English summary, cross‑checked against the official bill text.

This bill would give small businesses and farms a tax break to help them pay for increases in their injured worker and unemployment insurance costs.

Our take

What we think, in plain words.

When insurance costs go up for things like injured worker funds, businesses usually have to pay the difference. This bill would step in to help small shops and farms by letting them subtract those extra costs from their state taxes. While it would help keep local businesses afloat, it also means the state would collect less tax money to pay for public services, shifting the burden onto everyday taxpayers.

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The facts

What the bill actually says, no spin.

Would give a tax credit to small businesses and farms if their mandatory insurance costs go up.
Would cover increases in injured worker, temporary disability, and unemployment insurance.
Would cap the tax break at $12,000 per year for each business.
Would only apply to businesses with fewer than 25 employees and less than $1 million in sales.
Would reduce the amount of tax money the state collects for public services.