Quick facts:
-Pennsylvania has a flat income tax.
–Pennsylvania has the most local taxing jurisdictions than another other state.
The state of Pennsylvania is one of few states with a flat individual income tax. Pennsylvania’s rate is 3.07%.
Local & City Income Tax – Similar to Ohio & Kentucky, Pennsylvania also has Local & City income tax rates in addition to the 3.07% state tax rate. The Local & City tax rates vary from 1.00 to 3.4% depending on the jurisdiction (the average is 1.21%.)
Note: Pennsylvania has the most local taxing jurisdictions in the country with approximately 2,978 different taxing jurisdictions.
The state of Pennsylvania has one of the highest business income tax rates in the country at 9.99%.
Like many states, Pennsylvania has multiple sales tax rates. One at the state level and another at the local level. The state rate is 6.00% and the average local rate is 0.34% (total average rate for Pennsylvania Sales Tax is 6.34%).
The average property tax rate for residential property in the state of Pennsylvania is 1.51%, making it an awfully expensive place to own property.
Pennsylvania is one of only 6 states in the country that has an inheritance tax. Pennsylvania’s inheritance tax affects lineal heirs, but not spouses. Learn more here.
Unemployment taxes usually consist of three factors. They are the wage base, range of rates, number of schedules. Below is an outline of the three:
Pennsylvania is an inexpensive state to to set up your LLC. Here are some important facts:
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