BusinessTax Relief

By Matt Smith

Matt Smith's role as a small business employment and human resources attorney for over seven years has given him an understanding that many small businesses need tax relief. Matt supports eliminating the cap on carryover of Net Operating Losses. This will help startup companies that are often not successful early in their formation and companies in sectors that go through periodic downturns. He also supports moving to a single sales factor apportionment for the corporate net income tax so that companies that locate in Pennsylvania and employ Pennsylvania residents are rewarded rather than punished by our tax code. Finally, Matt will also supports lowering Pennsylvania's Corporate Net Income Tax to levels competitive with comparable states so that we can effectively compete for new business.

Matt has also supported efforts to increase the research and development tax credits available to our burgeoning biotechnology and biomedical industry in Western Pennsylvania. He also led the fight in the House for the Jonas Salk Legacy Fund that would provide much needed capital dollars for additional construction in the biomedical field.