Pennsylvania Legislature Considers Pro-ESOP Bill

Representatives from the Pennsylvania Center for Employee Ownership will testify before the Pennsylvania House of Representatives Finance Committee on House Bill 1289 on June 19. This bill would add incentives that mirror the federal deferral of capital gains tax (the "1042 rollover") for business owners who sell shares to an ESOP. Pennsylvania and Arkansas are currently the only two states that do not mirror the federal deferral. For more information or to attend, contact the executive director of the Pennsylvania Center for Employee Ownership, Kevin McPhillips ([email protected]).