05/16/2008
This week, state Sen. Pat Vance (Cumberland County) introduced legislation doubling to $50,000 the amount of equipment expenses small business owners may deduct from their state taxes. State Rep. Gordon Denlinger (Lancaster County) plans to introduce similar legislation in the state House. Allowing small business owners to immediately expense critical investments puts more money back into the hands of job creators so they can hire new workers and grow their businesses. Expensing reduces the cost of capital investments for small business and is key to expanding the economy. NFIB led the fight in Washington, D.C., to raise the Sec. 179 expensing threshold to $250,000.
State Sen. Bob Robbins (Mercer County) is introducing legislation to raise the small business exemption to the capital stock and franchise tax to $250,000. Raising the "fixed-formula deduction" would stimulate Pennsylvania's economy by freeing the state's smallest businesses from the burden of this tax. State Rep. Brian Ellis (Butler County) has introduced similar legislation in the state House.
