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Interesting Tidbits from Proposed State Budget

February 22, 2010
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Two weeks ago, Governor Ed Rendell unveiled his proposed 2010-11 state budget.  If you’ve never before seen a state budget, it’s something else.  Over 1000 pages, with too many sections and aspects to count.

There are several highlights of the $29 billion budget, including the proposed cut of the state sales tax from 6 percent to 4 percent.  Of course, when you reduce one tax, there is often an increased or added source of revenue elsewhere.  In this case, the budget plans on repealing several tax exemptions.  Among the 74 tax exemptions to be repealed that affects most of us: legal services.  That’s right, if the budget is passed, our legal bills sent to clients will include a tax. 

It’ll be interesting to see what the feedback from the legal community will be on this proposal.

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One Comment leave one →
  1. March 3, 2010 3:46 pm

    Philadelphia Bar Association Chancellor Scott Cooper had a great op-ed published in a recent “Daily News” on this tax. Check it out here:
    http://www.philly.com/philly/opinion/85174197.html

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