Corporate Taxes

January 22, 2013

The inheritance tax bill would create a new loophole that could easily be exploited, would be very costly and would likely violate the uniformity clause. Another bill would eliminate the bank loans tax, a very important piece of the tax code that helps to defer a type of sham financial transaction.

September 19, 2012

Pennsylvania has enacted billions of dollars in business tax cuts and spent hundreds of millions on tax credits, yet there is little information available to determine whether these large tax expenditures have done what they promised to do, PBPC Research Director Michael Wood testified before the House Finance Committee today.

July 13, 2012

The General Assembly has enacted a 2012-13 state budget that restores some of the cuts proposed by Governor Tom Corbett but remains below budgeted 2008-09 levels, despite four years of recession-driven increases in demand for services.

July 5, 2012

Changes to the state's Tax Code are projected by the House Republican Appropriations Committee to reduce revenue collections by $90 million in 2012-13, but the bill has much greater long-term costs.

June 8, 2012

Governor Tom Corbett’s administration has proposed giving $1.65 billion in state tax credits over 25 years to companies that build and operate an ethylene cracker plant in Pennsylvania. It would be a windfall for Shell Oil, which is evaluating a site for a cracker plant in Beaver County.

June 1, 2012

The Senate, responding to Pennsylvanians’ deep concerns about service cuts, passed a budget bill that is a significant improvement over Gov. Tom Corbett’s budget. Still, lawmakers are leaving money on the table.

April 30, 2012

The Pennsylvania House will take up a bill this week that couples a half-hearted attempt to close corporate tax loopholes with nearly a billion dollars in business tax cuts by the end of the decade. Read Sharon Ward's memo to editors and reporters outlining concerns about the bill.

April 19, 2012

House Bill 2150 will prevent some corporations from using loopholes to avoid paying income taxes, but revenue raised from this change doesn't come close to covering the amount the state will lose in revenue from tax cuts in the bill.

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