On top of a 9.99% corporate income tax rate (second highest in the country), a comprehensive analysis done by the nonpartisan Tax Foundation reveals Pennsylvania is just a lousy place to do business, in nearly every category.
Here's some of the disturbing rankings:
Corporate HQs: - 50
R & D Facilities - 50
Call Centers - 45
Distribution Center - 48
Retail - 47
Capital-Intensive Manufacturing - 9
Labor-Intensive Manufacturing - 26.
The only kind of business that thrives is an established capital-intensive company, which is permitted to exclude sales made out of state.
State house candidate Mike Schlossberg, who is running in an uncontested race for Jennifer Mann's seat, believes he can fix all this is "by closing the Delaware tax loophole and then dedicated a portion of the recovered tax revenue to a gradual decrease of the CNI [corporate net income]."
In other words, punish business even more.
Instead of enacting kooky schemes like the NIZ or ranting about the Delaware loophole that evil corporations use, future State Rep. Schlossberg and State Senator Pat Browne might actually consider some meaningful reforms in the way corporations are taxed.
In Senator Browne's own words, "This should be obvious."
5 comments:
I thought Corbet and the Republican controlled House and Senate were going to change all this.
I think browne said "I am oblivious".
Everyone should also keep in mind that there was no personal income tax in Pennsylvania until the Shapp administration of the early 70's
This was enacted after a constitutional convention by both the Senate and House.
The only news from Corbet and republican legislators is to sell the state stores and Lay-off middle class workers.
We have the highest score, We won!
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