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House Co-Sponsorship Memoranda
House of Representatives
Session of 2013 - 2014
Regular Session
MEMORANDUM
| Posted: | May 9, 2013 01:35 PM |
|---|---|
| From: | Representative Michele Brooks |
| To: | All House members |
| Subject: | Corporate Tax Reform |
| In the near future, I plan to introduce legislation in place of House Bill 1066, legislation I sponsored to amend the Tax Reform Code of 1971 to reduce the Corporate Net Income Tax rate. The primary difference in this current version versus HB 1066 is that the rate of reduction will change from two years to six years beginning in 2015. This legislation will reduce the Corporate Net Income tax rate to 9.49% for the taxable year beginning January 1, 2015 and ending December 31, 2015 and further reduces the rate by 0.5% each year until the rate reaches 6.99% in 2020. The rate will remain at 6.99% each year thereafter. Taking this step in improving Pennsylvania's business tax climate will provide businesses an incentive to locate or remain in Pennsylvania and the tax relief they need to increase the number of jobs and spur Pennsylvania's economy. Please join me in bringing jobs to Pennsylvania by improving the Commonwealth's business tax climate. HOUSE BILL 1066 CURRENT SPONSORS: AUMENT, BAKER, BARRAR, BENNINGHOFF, BLOOM, R. BROWN, CLYMER, CUTLER, DENLINGER, EMRICK, EVANKOVICH, FLECK, GABLER, GIBBONS, GILLEN, GRELL, GROVE, HAHN, HARHART, C. HARRIS, HESS, HICKERNELL, M. K. KELLER, KORTZ, MACKENZIE, MAJOR, MARSHALL, MARSICO, MATZIE, METCALFE, MICOZZIE, MILLARD, MILLER, MOUL, OBERLANDER, PICKETT, RAPP, READSHAW, REED, ROCK, SAYLOR, SIMMONS, STEPHENS, STEVENSON, SWANGER, TALLMAN, WATSON. |
Introduced as HB2162
Memo Updated: May 9, 2013 01:36 PM