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TIME SENSITIVE REMINDER:  Adjust LIT by 10/31 to Generate Addtn’l Revenues

By Jason G. Semler, CPA, Partner, September 21, 2017

We have heard from a number of local units who are anticipating a revenue shortfall next year as you project next year’s revenue and plan your 2018 budgets. We have also heard that because of this serious dilemma, many are considering or in the process of adopting/amending a Local Income Tax (LIT) in your County.

We just wanted to remind you that it is not too late to adopt or adjust a LIT rate for next year – but time is quickly running out.  If you adopt a LIT or adjust your LIT rate by October 31, the new rate will be in effect – and producing revenue for you – starting January 1, 2018. 

LITs are not “one size fits all.”  Not only are there several varieties (i.e. property tax relief, certified shares and public safety), changes in taxes and revenue streams are interdependent, so you must look at several scenarios to arrive at the right solution for your situation.  

If you’d like to figure out the possibilities for a new LIT or determine if a LIT rate adjustment might be the answer to your 2018 budget gap, get started NOW to be able to act by October 31.  Please contact us at .(JavaScript must be enabled to view this email address).

Information in this article was believed current as of the date of publication. As you know, changes occur frequently. The information presented is of a general educational nature. Before applying to your specific circumstances, please contact us at


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