CHARLESTON -
Senator Jay Rockefeller was in Charleston
Tuesday to celebrate small businesses in West Virginia
and promote new legislation he has proposed which would lower the tax burden on
newly-formed businesses.
The Senator's Small Business Jobs Act would raise the amount
of start-up costs that a small business can deduct on their taxes from $5,000
to $10,000. The expenses this tax cut would apply to include legal and
accounting fees, advertisement, travel and training of new employees.
"When starting a small business," said Ray Sickles, owner of
Morgantown-based sandal manufacturer Gurkee's, "there are so many costs that
add up very quickly. When I started my business, this larger tax deduction
would have been incredibly helpful, and I have no doubt that it would benefit
many other small businesses that are just getting started."
According to the U.S. Small Business Administration, small
businesses have created nearly 65% of private-sector jobs. Additionally,
Rockefeller's office claims that over 95% of employees in West
Virginia work for small businesses.
"I've been in close touch with many of our state's small
business owners recently," said Rockefeller, "and I'm doing everything I can to
help them, create more jobs and boost our economy."
"I hope that today we were able to help more small business owners find
more ways to finance their companies so they can grow, hire and succeed."
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