PA is sitting on a surplus of cash and wants to help businesses make it rain 🤑 House Bill 1960 just passed to reduce the corporate net income rate. The current rate of 10% has been in place since 1995 and officials say it's time for a change.
The bill passed with flying colors, receiving praise from both sides of the aisle 🤝. It's now with the Senate, where the bill also has bipartisan support.
Here’s Five Fast Facts on HB 1960:
🔥Bottom line: Corporate tax cuts are a good thing as far as attracting new business to the state and boosting PA's employment rate. Crooks will always take advantage of loopholes, but for the majority of honest business owners, this is a win. Let's hope the state's surplus keeps bringing positive changes to the people.
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