PA Chamber now advertising PA is open for business for those in NYC faced with a socialist mayoral candidate.
Comparing Business Policies
Corporate Income Tax
- NY: 7.25%
- PA: 7.99%, and dropping.
Personal Income Tax
- NY: 4-10% (NYC add more local tax of 3%)
- PA: 3.07%
Sales Tax
- NY: 4% with another 4% adding in state/local
- PA: 6%.
Gas Tax
- NY: 16.5 cents
- PA: 57.6 cents
Regulations
- NY: 250,000 (just added $9 congestion tax in NYC)
- PA: 153,000.
Housing
- NY: $780,000 median home price
- PA: $272,000 median home price
Commercial Rent:
- NY: NYC- $100 sq ft, Albany- $30-40 sq ft
- PA: $20-30 sq ft
Small Business Survival Rate
- NY: 47% (below the nation avg 48.9%)
- PA: 54%
Should You Move to PA from NY for Business Climate?
- Recommendation: Yes, moving to PA from NY is likely advantageous for most business owners, particularly those in NYC
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