Business Tax Relief – Page 5 – Pennsylvania Manufacturers’ Association

Study after study shows Pennsylvania’s business taxes to be among the highest and least competitive in the nation. The “sticker shock” of high taxes makes it difficult to show a business relocation prospect all of Pennsylvania’s many attributes. To be competitive, it is essential that Pennsylvania continues to reform business tax rates and administration to enhance overall business competitiveness.

Progress is being made as Act 55 of 2022 will gradually lower Pennsylvania’s highest-flat-rate-in-the-nation Corporate Net Income Tax of 9.99% to 4.99% by 2031. But more reforms are needed. Net Operating Loss should be uncapped from the current 40% as Pennsylvania is one of only 3 states that applies such a limit that discourages business investment. Other reforms include but are not limited to fairer and more uniform tax treatment of businesses paying at the Personal Income Tax threshold as is done in other states.

“PMA Perspective” Program to Bring Legislative Issues to Life

“PMA Perspective” Program to Bring Legislative Issues to Life PMA is pleased to announce the launch of a new half-hour cable program, “PMA Perspective”. The show will air on the Pennsylvania Cable News Network (PCN) and will focus on how policies enacted in Harrisburg and Washington impact manufacturers, job creators, and the overall health and ...

PMA Bulletin — November 6, 2013

November 05, 2013 | Business Tax Relief

PA Improves from “D” to “A-” Under Corbett’s Leadership on Tax Reform The commitment by Governor Corbett and the Pennsylvania General Assembly to improve the commonwealth’s business environment is getting national attention. Words of praise for Pennsylvania resonated at the 44th Annual Meeting of the Council on State Taxation (COST), held in Phoenix, Arizona. “COST ...

PMA Bulletin — September 11, 2013

September 11, 2013 | Business Tax Relief

Lawmakers Work to Lighten Regulatory Burden for Job Creators In 1988, former Democratic presidential candidate and life-long liberal, George McGovern, bought a resort hotel in Connecticut. Two years later the hotel went bankrupt. In a 1991 commentary published by the Wall Street Journal, McGovern placed most of the blame for the bankruptcy on the cost ...

PMA Bulletin — July 31, 2013

July 31, 2013 | Business Tax Relief

Death to the Death Tax! Despite grumbling over what didn’t happen this past June, there is at least one major accomplishment that deserves more attention. In the tax code enacted with the General Fund budget, the General Assembly eliminated the inheritance tax — more appropriately the “death tax” — levied on a business when sons, ...

PMA Bulletin — July 3, 2013

July 03, 2013 | Business Tax Relief | Regulatory Reform | Workforce/Education

A Third Sensible and On-Time State Budget The good news is that the General Assembly sent Governor Corbett a $27.83 billion budget that supports record investment in education, including science, technology, engineering, and math programs and vital job training initiatives throughout the commonwealth. This is a pro-jobs budget consistent with the same successful elements Pennsylvania ...

Time to End Capital Stock and Franchise Tax Nightmare

June 20, 2013 | Business Tax Relief

Have you ever had a nightmare and no matter how many times you try to wake up, it just keeps coming back? Businesses in Pennsylvania that are paying the Capital Stock and Franchise Tax know this problem all too well. Pennsylvania businesses and the commonwealth’s economy have been taxed an extra $6.9 billion thanks to ...

PMA Bulletin — June 5, 2013

June 05, 2013 | Business Tax Relief | Labor Issues | Regulatory Reform

Corbett Policies Spur PA Economic Resurgence Over the years, Pennsylvania hasn’t been an exemplar for job creation and economic growth. A new mindset is in order, according to a study that shows that the pro-growth policies of the Corbett Administration have Pennsylvania rising quickly up the ranks. Overall, the study Rich States, Poor States, by ...

PMA Bulletin — April 24, 2013

April 24, 2013 | Business Tax Relief

Manufacturers Given Opportunity to Reinvest: Another Initiative of the Governor’s Manufacturing Advisory Council Report An innovative policy to stimulate investment in manufacturing now awaits action in the Pennsylvania House. State Rep. Tommy Sankey (R-Clearfield) recently introduced HB 869, which allows smaller manufacturers to set aside pre-tax money to cover future costs much the same way ...

PMA Bulletin — March 27, 2013

March 26, 2013 | Business Tax Relief | Regulatory Reform | Workforce/Education

GMAC Recommendations Taking Shape In PA; Over 190,000 Job Openings Posted on PA Website On Thursday, March 28, Governor Tom Corbett will be in the Lehigh Valley to announce a campaign to implement his Manufacturing Council’s (GMAC) top recommendation under its Talent and Workforce initiative — the Adopt a School program. Whoever said manufacturing is ...

PMA Bulletin — March 13, 2013

March 13, 2013 | Business Tax Relief | Energy

New Carbon Tax a Blow to a Surging Manufacturing Sector Just when American manufacturing is starting to flex its muscles again, a movement is underway in Washington to levy a new tax that would stifle that resurgence. Two weeks ago legislation was introduced in the U.S. Senate to establish a tax on carbon based energy ...