Business Climate in Allentown & Lehigh Valley
Business and Income Taxes (State and Local)
- State Corporate Net Income Tax: 9.9% (more info)
- State Franchise Tax & Capital Stock Tax to be phased out by 2011
- Personal Income Tax: 3.07% (Applied to S Corporations, LLCs, partnerships, sole proprietorships)
- Allentown City Property Tax (Land): 50.38 mills
- Allentown City Property Tax (Buildings): 10.72 mills
- County Property Tax: 10.25 mills
- Allentown School District Property Tax (Land): 42.942 mills
- Realty Transfer Tax: 1% imposed on value of real estate transferred
- Business Privilege Tax: (more info)
- Business License: $35 annually
Largest Employers
The largest employers in Allentown, Pennsylvania include PPL, Lehigh Valley Hospital and St Luke's Hospital. In the Lehigh Valley, those employers include Air Products and B.Braun. 2008 Fortune 500 firms in the area include PPL and Air Products, with another 9 less than 50 miles away (Merck, Unisys, Toll Brothers, Crown Holdings, Universal Health Services, Lincoln National, UGI, Sungard Data Systems and AmeriSourceBergen).
Average Commercial Lease Rates
| Average Class A Office Lease Rate | $22.57 |
|---|---|
| Average Class C Office Lease Rate | $13.25 |
| Average Industrial Rate (Flex) | $9.66 |
| Average Industrial Rate (Warehouse) | $3.96 |
