Posted: | December 18, 2012 04:19 PM |
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From: | Representative Marguerite Quinn |
To: | All House members |
Subject: | Tax Deferment for Business Located Within A Declared Disaster Area - Former HB 1413 |
In the near future, I will be re-introducing legislation that is vital to economic health of businesses that may be forced to cope with the impact of a natural disaster. As you are aware, Pennsylvania has been forced to cope with multiple natural disasters over the course of recent years. When these natural disasters occur, businesses not only lose sales revenue while repairs take place, but can also lose valuable inventory. With the creation of additional disaster-based financial obligations and a lack of revenue flow, certain businesses are then unable to generate the revenue needed to make necessary tax payments to the Commonwealth. If enacted, my legislation will allow businesses located within a declared disaster area to defer their state tax liability for up to two years. During this time, businesses will be granted the time needed to generate enough revenue to fulfill their tax duties, while resuming normal business operations. Please join me in providing this much-needed tax deferment to our Commonwealth business entities located within a declared disaster area. Prior Co-sponsors: Boyd, Caltagirone, Costa, DeWeese, Fleck, Gingrich, Grove, Josephs, Killion, Kortz, Major, Marshall, Micozzie, Murt, Mustio, O’Neill, Pashinski, Petri, Pickett, Readshaw, Reichley, Scavello, Stern, Stevenson, Swanger, Toohill, Vereb, Vulakovich, Wagner, Watson |
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View Attachment |
Introduced as HB132