NFIB members Dale Kaplan (far right) and Warren Hudak (second from right) at the Governor’s bill signing ceremony August 19. NFIB Pa. State Legislative Director Bob Keaton (second from left)
Governor Tom Corbett has just signed the tax code bill into law which includes repeal of the Death Tax for many small businesses in Pennsylvania. NFIB fought hard to get this bill passed which was sponsored by Rep. Stephen Bloom in the House and Sen. Dominic Pilleggi in the Senate. Thank you to those legislators for their effort on behalf of small business and job creation.
The bill exempts any small business with 5 million dollars or less in assets and fewer than 50 employees from paying this inheritance tax. Without the repeal every dollar in small-business assets had been taxed at 4.5 percent when handed down to children, and 12 percent when left to a sibling.
ANOTHER VICTORY FOR SMALL BUSINESS AND NFIB PA!