Blogs
What is the Difference Between a Regular Corporation and a Benefit Corporation?
What is the Difference Between a Regular Corporation and a Benefit Corporation? Recently we discussed the establishment of the Pennsylvania Benefit Corporation as a new legal business entity in Pennsylvania. To recap, a Benefit Corporation is a corporation committed to operating in a way that has a positive impact on both the environment and society. […]
The State of Pennsylvania Is Getting Out of the Liquor Business
The retail industry in the state of Pennsylvania is abuzz with Governor Tom Corbett’s recent announcement of his plan to close the approximately 600 state-run liquor stores and return the market to the private sector. The governor’s plan would replace the state-run stores with 1,200 wine and liquor retailers. The licenses for these businesses would […]
What is a Pennsylvania Benefit Corporation?
New legislation was signed into law on October 24, 2012 making Pennsylvania the twelfth state to formally add the Benefit Corporation to its list of legal business entities. Fifteen other states are currently working through the details of adding a variation of the Benefit Corporation to their options for legal business entities as well. A […]
Business Income Generated in Other States Taxable in Pennsylvania
The Pennsylvania Supreme Court recently ruled that income generated in Delaware by the sale of land in Delaware was in fact taxable as income in the state of Pennsylvania for a Pennsylvania pulpwood company. In 2004, Glatfelter Pulpwood Company, a wholly owned subsidiary of P.H. Glatfelter Corp, sold several thousand acres of timberland located in […]
Business Assets May Become Exempt from Inheritance Tax
Lawmakers in Harrisburg are considering a proposal that would exempt business assets from the state’s inheritance tax. The legislation is a welcomed glimmer of hope for many family-owned, small businesses in Pennsylvania. Still struggling with the shaky economy and the usual mountain of federal taxes and regulations, many small business owners are just trying to […]
Small Businesses Expected to Keep a Grip on Capital Spending
The latest Wells Fargo/Gallup Small Business Index indicates U.S. small-business owners plan to spend less on capital in the next twelve months than last year or the year before. As we recently reported, small business credit is steadily improving. The Gallup survey results support our theory that small businesses who survived the recession did so […]
Small Business Owners’ Credit Profiles Improving
With the U.S. economy slowly climbing up from the recent recessional pit, small business owners’ credit profiles appear to be leading the way. Studies by industry analysts show the average credit profile from small business owners improved in 45 of 50 states when comparing 2012 to 2008. Small businesses are among the first affected by […]
More Online Options for Small Business Finance Management
Wells Fargo recently stepped up its efforts to reach small business owners via an online platform it calls the Business Credit Center. Business owners and managers can learn how to develop a strong credit application, estimate business capital needs, and explore other areas of business finance. The Business Insight Resource Center, a facet of Wells […]
Do You Have Adequate Worker’s Compensation Insurance?
The number of Pennsylvania workplace fatalities shrunk in 2011 compared to 2010. In 2011, a reported 186 people lost their lives in workplace accidents in Pennsylvania, while 200 employees died in 2010. The 186 people who lost their lives in 2011 are still too many, but the decline in workplace fatalities is welcome news. When […]
Business Bankruptcies Fell 22 Percent in 2012
The number of bankruptcies for primarily commercial debts in 2012 fell twenty-two percent from the number reported in 2011. This is yet another statistic supporting the fact that the financial health of U.S. businesses is stabilizing. The statistics are based on whether a debtor, which could be an individual or a legal business entity, reported […]
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