Over the last year, America’s grocers stepped up and made the necessary investments to safely keep stores open and shelves stocked. Now, after one of the most challenging years for the food retail industry, lawmakers are proposing raising business taxes, which would make our job – feeding America – more difficult. In this video, FMI’s Vice President, Tax, Trade, Sustainability & Policy Development Andy Harig discusses the impact of raising taxes on the food industry amid COVID-19.
QUESTION: What do you consider to be the most important tax issue facing your business today (e.g., changes to the federal corporate tax rate, state/local taxes, protecting LIFO, etc.)?