"Tax Foundation: Pa.'s business environment subpar"
By Eric Veronikis
Pennsylvania's business tax climate is "mediocre at best," said Scott Hodge, president of the Washington, D.C.-based Tax Foundation, an educational tax think tank.
Hodge this morning rated the state's ability to attract businesses and jobs during a conference call hosted by the Pennsylvania Chamber of Business and Industry.
Pennsylvania ranks 27th in terms of business friendliness, Hodge said. And the state has the second-highest corporate tax rate of 9.99 percent, second only to Iowa's 12 percent, he said. If state and federal business tax exemptions are considered, however, the commonwealth has the highest corporate tax in the U.S., Hodge said.
States have to consider their business attractiveness from a national and global perspective, he said. Pennsylvania competes with countries such as Ireland and Poland in attracting businesses, Hodge said.
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