In this Update:
Employers Applaud Action to Expand Jobs in PA
Job creators are taking note of the bipartisan action taken to attract new employment opportunities and residents to Pennsylvania.
The Pennsylvania Chamber of Commerce, business operators and others discussed the changes this week at a gathering in Lancaster.
One of the most significant steps they cited is the phase-down of the job-killing, corporate net income tax (CNIT). Under a provision of the new state budget, the rate will drop to 8.99% in 2023, and then continue to drop until it hits 4.99% in 2031. Once the reduction is fully implemented, Pennsylvania will go from imposing one of the nation’s highest CNIT rates to the eighth lowest in the country.
The consensus is that this will make Pennsylvania highly competitive among neighboring states in the northeast and others across the U.S.
Other changes made to the state’s tax code will be very helpful for mom-and-pop businesses. More than 99% of Pennsylvania businesses are small businesses, and those 1.1 million small businesses employ 2.5 million people, which is 46.3% of all Pennsylvania employees.
Under the new law, Pennsylvania will recognize “like-kind” exchanges for state tax deferral when property is exchanged for similar property. Federal tax law already allows for the tax deferral on federal taxes, providing some incentive for employers to invest in the job-creating assets businesses need to remain competitive, but Pennsylvania had been the only state not to recognize these exchanges for state tax purposes.
State tax law governing expense deductions is also being changed to bring it in line with federal law, eliminating the unequal treatment of Pennsylvania’s small businesses. The increase in limits will make it easier for employers to buy equipment and to invest, which promotes job growth.
Pennsylvanians need employment opportunities if they are to stay and raise families here. It’s exciting to hear job creators applauding the steps we’ve taken to increase the number of good-paying jobs that support healthy, thriving communities.
Game Commission Seeks Help Counting Wild Turkeys
The Pennsylvania Game Commission is again seeking input from the public in surveying wild turkeys this summer. The Pennsylvania Wild Turkey Sighting Survey is open through Aug. 31.
Participation is important for turkey population management. Survey data allow the agency to determine total wild turkey productivity and compare long-term reproductive success within Pennsylvania and across states, as this is a standard methodology used across the country. Data also are used in the turkey population model to track population trends.
Turkey sightings can be reported through the Game Commission’s website. The mobile app is no longer available.
Farmers Markets Mean Fresh, Regional Produce
National Farmers Markets Week is a timely reminder that fresh, regional, summertime produce can be found at area farmers markets.
Many farmers markets are temporary, but there are several online guides to help you find a market near you.
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