Legislation Would Provide Financial Incentives to Small Businesses
Harrisburg – May 6, 2019 – With National Small Business Week (May 5- 11) now underway, state Sens. John Blake and Vincent J. Hughes today unveiled legislation that would create financial incentives to help small businesses succeed.One bill in the package would create tax-deferred savings accounts for small businesses to shift their tax burden. The measure would allow profits to be deposited into tax deferred accounts. If the money deposited in the account is subsequently used for job creation, then the dollars could be used tax free.