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Although some municipalities (listed in the chart below) have had the Financially Distressed designation removed, most cannot afford to lose the benefits Act 47 provides. [2] The benefits include revenue from the nonresident wage tax available only to cities with Act 47 status.
Most municipalities in Pennsylvania must follow state law except where the state has expressly given jurisdiction to the municipality, and are therefore subject to the Third Class City Code, the Borough Code, the First Class Township Code, the Second Class Township Code, or other acts for sui generis municipalities.
For many municipalities in the United States, property taxes are the primary source of revenue. The amount of forgone tax revenue as a result of these tax-exempt land parcels is significant. The president of the city council of Baltimore, MD, recently estimated that his city loses $120 million annually from these foregone taxes. [16]
Watch for bias, don't overvalue stock options, and know what you're entitled to receive if you're fired, say employment attorneys who specialize in executive compensation.
Your salary is a lot like investing: where you start definitely impacts your total return. Start a job at $50,000 a year instead of $55,000 a year and if your raises are percentage-based -- or if ...
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Local municipalities can be governed by statutes, which are enacted by the Pennsylvania General Assembly, and are specific to the type and class of municipality; by a home rule municipality, under a home rule charter, adopted by the municipality; or by an optional form of government, adopted by the municipality. [3]
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