Gov. Markell Gets Tax Increases Approved - NBC 10 Philadelphia

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Gov. Markell Gets Tax Increases Approved



    Gov. Markell Gets Tax Increases Approved

    A package of tax increases that Gov. Jack Markell is relying on to help pay for his proposed spending plan for next fiscal year is on the way to his desk for his signature.

    The Democrat-controlled state Senate approved the tax increases Thursday on a straight party line vote, with no Republicans voting in favor.

    The legislation cleared the House on a similar straight party line vote last week.

    The bill increases the annual tax on limited liability companies and business partnerships from $250 to $300.

    It also increases the minimum annual corporation franchise tax by $100.

    Administration officials say the tax increases should generate an additional $51 million next year, with out-of-state entities paying more than 95 percent of that amount.