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Pennsylvania House of Representatives
09/07/2024 04:42 PM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?SPick=20230&chamber=H&cosponId=42851
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House Co-Sponsorship Memoranda

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House of Representatives
Session of 2023 - 2024 Regular Session

MEMORANDUM

Posted: June 12, 2024 10:00 AM
From: Representative George Dunbar
To: All House members
Subject: Rectifying Problems with Crediting Provisions in our Add-Back Language
 
Soon, I plan on introducing legislation to correct the potential for some corporations to be double taxed on PA income. Pennsylvania’s corporate net income tax law requires certain intangible expenses or costs to be added back when paid to an affiliate. When the affiliate is also subject to PA CNIT a credit is currently allowed, but current existing language has the potential that the credit be applied in a manner that results in double taxation. My proposed corrective legislation would replace the current inequitable credit mechanism with a simpler deduction that avoids unnecessary complexity and relieves double taxation.

Please join me in co-sponsoring this legislation.
 

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Introduced as HB2422


Memo Updated: June 12, 2024 10:01 AM