Pennsylvania businesses might be split over Wolf’s tax plan

HARRISBURG, Pa. (AP) – Gov. Tom Wolf’s budget proposal is giving Pennsylvania’s business owners and executives a lot to think about.

Wolf said in an interview Wednesday that his proposals will create winners and losers among businesses, in part depending on where they own property or how they pay income to the state.

In the proposal, Wolf is seeking to increase state sales and income taxes and cut corporate and school property taxes as part of an overall scheme to make Pennsylvania’s system of taxation and school funding fairer.

That means a lot of different businesses will be affected differently.

He also wants to impose a new system of collecting corporate taxes, which could result in the state taxing billions of corporate profits that are currently being spirited out of Pennsylvania without being taxed.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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