Study: PA Has Second-Highest Tax Rate for a Coprorate HQ
Pennsylvania’s tax rate is particularly tough on corporate headquarters and independent retail stores, according to a new study by the Tax Foundation and KPMG. The state is kind to capital-intensive manufacturing and labor-intensive manufacturing, the study found.
In an effort to examine corporate tax costs in all 50 states, researchers designed seven model firms, and calculated each firm’s tax bill in each state. Each firm was modeled twice in each state: once as a new firm eligible for tax incentives, and once as a mature firm not eligible for such incentives.
Here’s how PA ranked in several different categories:
|Model Firm Type||Ranking||Mature Firm Rate||New Firm Rate|