Keystone Today

Members of the Pennsylvania General Assembly reconvened on Monday, September 16. Several legislative proposals are on the table that could affect small businesses in the state. The National Federation of Independent Business (NFIB) is actively monitoring these developments and will inform its members about any progress.

Among the proposed legislation is HB 1404, which aims to repeal Accelerated Sales Tax Pre-payments. SB 269 proposes to lower the Personal Income Tax rate to 2.8%. SB 346 seeks to increase the net operating loss carryover limitation. Another proposal, HB 2278, would raise the discount rate for businesses collecting and remitting sales tax via credit card transactions.

In terms of regulatory reform, SB 188 would require legislative approval for economically significant regulations. SB 190 calls for a review of all such regulations three years after they are enacted. Additionally, SB 350 proposes creating a tracking system for state permit applications and demands increased transparency within this 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."

The NFIB has also launched a national campaign advocating for making the Small Business Deduction permanent before it expires next year. They urge lawmakers to pass the Main Street Tax Certainty Act to prevent a significant tax increase on small businesses.