The National Federation of Independent Business (NFIB) has introduced two digital tools aimed at helping small business owners, policymakers, and the public in South Carolina understand the potential economic impact of the 20% Small Business Tax Deduction. The tools are designed to highlight what is at stake if Congress does not make this deduction permanent.
An interactive map is one of the tools, enabling users to examine how extending the Small Business Deduction could stimulate job creation and GDP growth in each congressional district across South Carolina. Additionally, NFIB has launched a tax calculator that provides small business owners with personalized estimates of potential federal income tax increases they might face in 2026 if the deduction expires.
“South Carolina’s economy is built on its small businesses,” stated NFIB State Director Ben Homeyer. “Allowing this essential deduction to expire would be a major blow to small businesses and their communities.”
According to NFIB’s interactive map, an extension of the deduction could result in nearly 35,000 new jobs and a $1.7 billion increase in GDP for South Carolina over the next decade. This district-level data offers lawmakers and local leaders insights into how their communities’ small businesses could benefit or suffer depending on whether the tax deduction becomes permanent.
The tax calculator assists individual small business owners in estimating their possible tax increase if the deduction ends. For instance, a South Carolina business owner with a personal income of $75,000 and qualified business income of $150,000 might see an increase exceeding $13,000 in taxes based on their complete financial profile.
Additionally, NFIB commended the U.S. House of Representatives for passing the One Big Beautiful Act recently. They described it as “one of the most pro-small business pieces of legislation in recent history,” noting that Congress has a chance to offer permanent tax relief to over 33 million small business owners.
To access these tools and learn more about NFIB’s efforts to support South Carolina’s small businesses, visit www.SmallBusinessDeduction.com.
