The PA General Assembly Returns: What You Need to Know

September 16, 2024

The PA General Assembly Returns: What You Need to Know

Members of the Pennsylvania General Assembly returned on Monday, Sept. 16, and several legislative proposals could impact small businesses. NFIB is closely monitoring these proposals and will keep our members updated on any movement. Small Business Tax Fairness:

HB 1404 – legislation would repeal Accelerated Sales Tax Pre-payments.
SB 269 – legislation would lower the Personal Income Tax (PIT) rate to 2.8%.
SB 346 – legislation would increase the net operating loss carryover limitation.
HB 2278 – legislation would increase the discount rate for businesses who collect and remit sales tax, collected via credit card transactions.

Regulatory Reform:

SB 188 – legislation would require legislative approval for economically significant regulations.
SB 190 – legislation would require a review of all economically significant regulations three years after enactment.
SB 350 – legislation would create a tracking system for state permit applications and requires increased transparency without the process.

“As the General Assembly returns, we are closely tracking any legislation that would impact our members and the small business community,” said Greg Moreland, NFIB Pennsylvania State Director. “Right now, the last thing small businesses need is legislation making it even harder to do business. We are hopeful that some of these pro-small business proposals pass, and small employers will see some relief.” ICYMI: NFIB launched a national campaign advocating to make the Small Business Deduction permanent before it expires next year, and small businesses are left with a massive tax hike. Tell your lawmakers to pass the Main Street Tax Certainty Act now before the Small Business Deduction expires:

TAKE ACTON!

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State:

Pennsylvania

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