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Sample Advocacy Letter |
PA 2010-2011 Budget continues key business tax changes
In what proved to be another very difficult budget year, the CompetePA coalition was successful in continuing the key business tax changes that we garnered last year:
- The FY 2010/11 budget will cap net operating loss (NOL) carry-forwards at the greater of $3 million or 20 percent.
- The sales factor formula will increase to 90 percent in this year's 2010/11 budget.
- Unfortunately, the delay in the Capital Stock and Franchise Tax phase out still remains for two more years, with the rate frozen at 2.89 mills.
Moving ahead, we will continue to advocate for more improvements to our business climate through more competitive business taxes. We appreciate your support this year to continue our progress, and we look forward to working with you in the year ahead.
CompetePA