Wolf budget axes some sales-tax exemptions, seeks lower corporate tax rate

Wolf budget axes some sales-tax exemptions, seeks lower corporate tax rate
Gov. Tom Wolf has proposed a $32.3 billion budget for 2017-18 that would not raise broad-based taxes but instead relies on taxing natural gas and ending a number of sales-tax exemptions enjoyed by businesses. Wolf said he wants to eliminate a series of sales tax exemptions, including exemptions on custom computer programming, design and data processing, commercial storage, and airline purchases of catered food and non-alcoholic beverages served to passengers on flights. The governor also said he wants to adopt a 6.5 percent severance tax on natural gas that would raise an estimated $294 million for state coffers in the new fiscal year that begins July 1. The budget proposal also calls for increasing the state’s minimum wage to $12 per hour from its current level of $7.25 per hour, which the administration believes will generate $95 million in additional revenue in the budget.
Source: Central Penn Business Journal; 2/7/2017

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