The National Federation of Independent Business (NFIB) has introduced two digital tools aimed at helping small business owners, policymakers, and the public in Wyoming understand the potential economic impact of the 20% Small Business Tax Deduction. These tools also highlight the implications if Congress does not make this deduction permanent.
An interactive map is one of these tools, allowing users to examine how extending the Small Business Deduction could boost job creation and GDP growth across every congressional district in Wyoming. Additionally, NFIB has launched a tax calculator that provides personalized estimates for small business owners in Wyoming, showing how much more they might owe in federal income taxes if the deduction expires in 2026.
“These new tools give small business owners and elected leaders in Wyoming real data about the economic stakes,” said NFIB Wyoming State Director Michael Smith. “If Congress fails to act, millions of small businesses across the country—including right here in Wyoming—will face a massive tax hike. That means fewer jobs, less investment, and slower growth for our communities. We urge Congress to make the 20% Small Business Tax Deduction permanent.”
According to NFIB’s interactive map, extending the deduction could result in an increase of 5,470 jobs and $350 million in GDP over the next decade for Wyoming. The detailed district-level data helps lawmakers and local leaders assess how small businesses within their communities would benefit from making this tax deduction permanent or what they stand to lose if it is not.
The tax calculator assists individual small business owners by projecting potential tax increases should the deduction not be extended. For instance, a Wyoming small business owner with a personal income of $75,000 and qualified business income of $150,000 might experience a tax increase exceeding $13,000 based on their full financial profile.
NFIB also expressed approval for the U.S. House of Representatives’ recent passage of the One Big Beautiful Act. This legislation is considered highly supportive of small businesses. Congress now has an opportunity to offer over 33 million small business owners lasting tax relief.
For more information on these tools and NFIB’s efforts to support Wyoming’s small businesses, visit www.SmallBusinessDeduction.com
