In 2021, most people can be forgiven for feeling as though investing in cannabis companies…
By Patrick McKenna, Esq.
Today, Pennsylvania Governor Wolf signed into law HB 1232 (Act 10 of 2020), which includes emergency finance and tax provisions. Among other things, the Act extends the filing and payment deadlines for state income tax and local income tax to coincide with the federal filing deadline of July 15, and waives the requirement for calculation of interest penalties from April 14 through July 16.
The Act does not address the payment or discount deadlines for the payment of real estate taxes.
The Act also permits the transfer of $50,000,000 from special funds under the Governor’s jurisdiction to a restricted fund to be used for the purchase of medical equipment and supplies for hospitals, nursing facilities and emergency medical services.
Finally, the Act extends any temporary regulations authorized by the Medical Marijuana Act to remain in effect until November 20, 2021, or upon the publication of the final-form regulations by the Department of Health, whichever occurs sooner.
Listed in The Best Lawyers in America® 2018, 2019 and 2020, Patrick M. McKenna practices in the areas of Land Use and Land Development, Municipal Government, Zoning, Real Estate, and Tax Assessment Appeals. He is President of the Chester County Bar Foundation. You can reach Patrick at email@example.com or 610-696-8225.