Washington, D.C. – U.S. Senator Amy Klobuchar today released a county-by-county report on how the small business tax cut legislation being considered in the Senate this week could impact small businesses across Minnesota. According to the report, compiled by the U.S. Congress Joint Economic Committee, the Small Business Jobs and Tax Relief Act could help more than 125,000 small businesses in Minnesota grow and create good jobs. The bill would give tax breaks to small businesses that hire new workers and also allow businesses to write off, or depreciate, the entire cost of major purchases completed this year.

“Small businesses are the engine of job growth and economic activity in Minnesota and across the country,” Klobuchar said.“This legislation could help more than 125,000 small businesses across Minnesota grow and spur economic growth around the state, and I will continue to work to move the bill forward and help local businesses succeed.”

The Small Business Jobs and Tax Relief Act would provide a 10 percent tax credit on new payroll in 2012. The amount of the credit would be capped at $500,000, helping ensure the benefits of the bill would be focused on America's small businesses.

The legislation would also encourage business investment and growth by allowing businesses to write off, or depreciate, the entire cost of major purchases made this year. Current law requires major purchases including equipment and buildings to be written off over many years. This means that tax savings from major investments in the business are spread out over a number of years, making it tougher for businesses to expand and create jobs.

The full report on the impact of the Small Business Jobs and Tax Relief Act can be viewed here. The report was conducted by the U.S. Congress Joint Economic Committee.

Below is a county-by-county breakdown of the number of small businesses that could benefit from the legislation.

Minnesota Establishments by Size of Business, 2009

County

Small Business Establishments

(<500 employees)

Large Business Establishments

(500+ employees)

Small Business Establishments as a Percentage of All Establishments

       

Total

125964

20489

86%

       

AITKIN

415

15

97%

ANOKA

6402

966

88%

BECKER

882

92

91%

BELTRAMI

992

138

88%

BENTON

780

125

86%

BIG STONE

167

10

94%

BLUE EARTH

1590

349

82%

BROWN

682

74

90%

CARLTON

679

65

91%

CARVER

2095

228

90%

CASS

822

73

92%

CHIPPEWA

414

37

92%

CHISAGO

1142

111

91%

CLAY

1118

161

87%

CLEARWATER

181

10

95%

COOK

267

5

98%

COTTONWOOD

309

43

88%

CROW WING

1819

233

89%

DAKOTA

8255

1686

83%

DODGE

434

22

95%

DOUGLAS

1204

120

91%

FARIBAULT

432

29

94%

FILLMORE

591

35

94%

FREEBORN

721

108

87%

GOODHUE

1199

157

88%

GRANT

200

8

96%

HENNEPIN

32148

7074

82%

HOUSTON

433

34

93%

HUBBARD

537

34

94%

ISANTI

714

57

93%

ITASCA

1070

94

92%

JACKSON

293

23

93%

KANABEC

291

13

96%

KANDIYOHI

1193

195

86%

KITTSON

126

15

89%

KOOCHICHING

372

43

90%

LAC QUI PARLE

191

10

95%

LAKE

269

26

91%

LAKE OF THE WOODS

149

9

94%

LE SUEUR

652

40

94%

LINCOLN

193

8

96%

LYON

698

118

86%

MCLEOD

896

128

88%

MAHNOMEN

93

10

90%

MARSHALL

263

9

97%

MARTIN

567

67

89%

MEEKER

540

48

92%

MILLE LACS

589

69

90%

MORRISON

822

65

93%

MOWER

767

118

87%

MURRAY

296

14

95%

NICOLLET

561

67

89%

NOBLES

549

72

88%

NORMAN

184

20

90%

OLMSTED

2798

594

82%

OTTER TAIL

1542

164

90%

PENNINGTON

343

56

86%

PINE

550

40

93%

PIPESTONE

322

26

93%

POLK

696

77

90%

POPE

326

64

84%

RAMSEY

10999

2314

83%

RED LAKE

95

6

94%

REDWOOD

497

27

95%

RENVILLE

482

22

96%

RICE

1357

147

90%

ROCK

240

22

92%

ROSEAU

373

26

93%

ST. LOUIS

4782

741

87%

SCOTT

2782

307

90%

SHERBURNE

1734

174

91%

SIBLEY

347

19

95%

STEARNS

3756

570

87%

STEELE

840

168

83%

STEVENS

308

44

88%

SWIFT

285

24

92%

TODD

520

30

95%

TRAVERSE

115

9

93%

WABASHA

553

27

95%

WADENA

370

33

92%

WASECA

463

37

93%

WASHINGTON

4679

709

87%

WATONWAN

284

20

93%

WILKIN

155

16

91%

WINONA

1088

145

88%

WRIGHT

2722

321

89%

YELLOW MEDICINE

303

24

93%

County Not Specified

10

106

8.6%

 

Note: An establishment is defined as a single physical location where business is conducted or where services or industrial operations are performed. Establishment sizes are based on the employment size of the firm in all industries and locations.                                                                                                                                                           

Source: Data from the U.S. Department of Commerce, Census Bureau.

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