|Neal Lesher of the National Federation of Independent Business presents Rep. Todd Stephens (R-Montgomery) with a certificate recognizing him as a Guardian of Small Business.
- The National Federation of Independent Business (NFIB) has recognized Rep. Todd Stephens (R-Montgomery) as a 2014 Guardian of Small Business for his legislative work on behalf of Pennsylvania’s small businesses.
As the son of a small business owner, I have seen, first-hand, the challenges they encounter. Small businesses are the lifeblood of our communities and are essential to our economy,” said Stephens. “It is a great honor to be recognized for my efforts on behalf of the small businesses of Pennsylvania.”
“In this legislative session, I co-sponsored tax reform legislation to promote investment in small start-up businesses in Pennsylvania,” said Stephens. “Act 52 of 2013
aims to provide a level playing field for businesses operating in the Commonwealth and make the state more competitive.”
The new law increased the cap on Net Operating Losses for two years and created a $5,000 deduction for small business start-ups. It closed the so-called “Delaware Loophole,” used by some businesses to avoid paying Pennsylvania corporate taxes, and it exempts all assets of family-owned businesses being transferred between family members from the inheritance tax.
In addition, Stephens supported the transportation infrastructure funding plan (House Bill 1060
) allowing for state investments in roads, bridges and mass transit; and House Bill 1513
, which prohibits businesses from being charged the gross receipts tax twice by separate municipalities for the same earnings.
Stephens also supported several other pro-business bills now pending in the state Senate, including one creating the Pennsylvania Business Development Authority to streamline programs and help businesses grow.
Representative Todd Stephens
Pennsylvania House of Representatives
Media Contact: David Foster