Pennsylvania Business Tax Climate

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PA Business Tax

Pennsylvania Business Tax Climate

At Williams & Associates CPA, we are constantly monitoring the ever changing tax climate of Pennsylvania. PA Business Taxes are improving from what used to be among the worst in the nation. Thank you Governor Wolf, at least somebody is doing something and we have not turned into Illinois just yet.  The Tax Foundation recently released it’s annual State Business Tax Climate. The Tax Foundation’s State Business Tax Climate Index enables business leaders, government policymakers, and taxpayers to gauge how their states’ tax systems compare. While there are many ways to show how much is collected in taxes by state governments, the Index is designed to show how well states structure their tax systems, and provides a roadmap for improvement. The good news for 2017 is that Pennsylvania moved up 4 spots to 24th in the country. Pennsylvania’s capital stock tax, originally slated for elimination in 2014, was fully phased out in 2016, resulting in an improvement of six ranks on the property tax component, from 38th to 32nd. In tandem with improvements to the state’s previously worst-in-the-nation unemployment insurance tax structure, the elimination of the capital stock tax drove an improvement from 28th to 24th overall. Click here to read the full report from the Tax Foundation.  Williams & Associates is a CPA firm located on the Main Line, in Ardmore, PA.

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