Friday, February 12, 2016

Rendell on PA business taxes: We're #26!

Pennsylvania ranks middle of the pack for business taxes; NJ is among the worst, Delaware among the best, says the Tax Foundation

Rendell on PA business taxes: We're #26!

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My Inquirer colleague Amy Worden in Harrisburg tells me Gov. Rendell plans to brag today about Pennsylvania's ranking in the yearly Tax Foundation review of state "business tax climate." PA ranks: 26 out of 50, which from the point of view of the anti-tax people puts us in the bottom half. Read the 60-page Tax Foundation report here.

How could Rendell brag about such a mediocre distinction? It's less strange when you check out the map on Page 2. Turns out PA is nearly surrounded by states that rank among the 10 worst for high business and business owner taxes: New York, New Jersey, Ohio, Maryland, and near-worst-10 contender West Virginia.

The exception, as usual, is corporate-friendly Delaware, which, despite its surviving progressive income tax, still ranks in the Top 10 for business-friendly low taxes. Though that hasn't noticeably cut Delaware's unemployment rate this recession, or stopped its factories from closing (Valero, GM, Chrysler) or its banks from laying off workers (BofA), which raises questions about the Tax Foundation's assumptions.

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About this blog

PhillyDeals posts interviews, drafts and updates that Joseph N. DiStefano writes alongside his Sunday and Monday columns and ongoing articles about Philadelphia-area business.

DiStefano studied economics, history and a little engineering at Penn. He taught writing and research at St. Joe’s. He has written for the Inquirer since 1989, except when he left a few times to work at Bloomberg and elsewhere. He wrote the book Comcasted, and raised six kids with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, 215.854.5194, @PhillyJoeD. Read his blog posts at http://www.philly.com/PhillyDeals and his Inquirer columns at http://www.philly.com/philly/columnists/joseph-distefano/. Bloomberg posts his items at NH BLG_PHILLYDEAL.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

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