Small Business Cap Increase

[SWFarmer]

https://www.swiftcurrentonline.com/local/small-businesses-in-saskatchewan-will-be-able-to-earn-more-at-same-tax-rate

This should help quite a bit. It's nice to see government actually wanting to decrease the tax burden.

[Sodbuster]

Won't be of much help unless the Federal government follows thru with the same cap, wouln't hold my breath on that one. I guess if you have no choice but to go over the $500,000 small business cap then it will benefit you a bit.

[SWFarmer]

Provincial corporate tax rate is 12% vs. @5 small business tax rate, so 10% saving between $500 and $600

[SWFarmer]

2% small business

[Oliver88]

This will save $10,000 for an incorporated farm with a net income of $600,000?

If true that is significant.

[Rareearth]

Wyoming
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South Dakota

0 TAX
Zero

South Dakota Corporate Income Tax Comparison
A home business grossing $55,000 a year pays $0.00
A small business earning $500,000 a year pays $0.00
A corporation earning $10,000,000 a year pays $0.00