Tax Credit for Small Retailers to Combat Theft
This act introduces a tax credit for small retail businesses to help them combat theft. Store owners can recover a portion of their expenses on security measures, aiming to reduce losses and enhance safety. Citizens may experience increased safety in stores and potentially more stable product prices.
Key points
Small retail businesses can receive a 50% tax credit for expenses incurred to prevent retail theft, up to $2,500 annually.
Eligible expenses include employee security training, background checks, security cameras, lighting, intrusion detection, and security vulnerability assessments.
The credit aims to support small businesses in protecting their assets and reducing retail crime, potentially leading to better product availability and price stability.
Expired
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