Corporate Taxes

Corporate Tax LoopholesIssue Spotlight: Closing Corporate Tax Loopholes

The tax code bill enacted along with the 2013-14 state budget maintained Pennsylvania's capital stock and franchise tax, which was set to expire in 2014, for two more years. It also took a small, first step to close the Delaware loophole, which has allowed large multi-state corporations to avoid paying income taxes in Pennsylvania. No tax code bill was passed as part of the 2014-15 budget.

2013-14 Tax Code Analysis: Read PBPC's Analysis of the PA Tax Code Bill

Combined Reporting of State Corporate Income Taxes: Read ITEP's Primer

Browse Corporate Tax Publications Below

The ideas in this document were compiled by the Pennsylvania Budget and Policy Center based on our own work and that of our partner, the Keystone Research Center, and that of advocates on many issues. The names of our partners are in our letter to the Governor and the members of the General Assembly.

February 1, 2016 (Harrisburg, Pa.) –  In the context of Pennsylvania’s still-unfinished 2015-16 state budget, the Pennsylvania Budget and Policy Center (PBPC) today released a detailed analysis of three competing budget proposals put forward last year – the governor’s original 2015-16 proposal, the compromise budget, SB 1073, and the Republican bill, HB 1460, that passed both chambers and the governor blue-line vetoed in December.

Budget numbers are always difficult to understand, not least because those with different perspectives can present the numbers in sharply different, but honest ways. In the context of the state’s still-unfinished 2105-16 budget, this brief presents a series of careful “apples-to-apples” comparisons of the three budgets in play in Harrisburg last year: Governor Wolf’s budget proposal, the Republican budget and the bi-partisan budget agreed to by Governor Wolf and the leaders of the Democratic and Republican parties in the General Assembly.

(HARRISBURG, Pa.) -- Sept. 16, 2015 --Harrisburg has become preoccupied with budget process and tactics in recent weeks. But what Pennsylvanians need is a good budget outcome – a budget that reinvests in education, jobs and communities using revenues from a severance tax, provides property tax relief and puts the state’s fiscal house in order.

To refocus attention on the key budget choices that legislators and Gov. Wolf must make, the Pennsylvania Budget and Policy Center launched “Why the Budget Matters – Let’s Count the Ways.”

(HARRISBURG, Pa.) -- Aug. 24, 2015 -- Dr. Stephen Herzenberg, of the Pennsylvania Budget and Policy Center, called on members of the Pennsylvania House to focus on substantive budget negotiations rather than attempt futile veto override votes in the following statement released today:

“These planned line-item veto override votes are likely meaningless. Because the governor vetoed the entire Republican budget, only a veto override vote on the full budget would likely be constitutional. Moreover, until the General Assembly and the governor agree on how to raise all the revenue needed for a complete and balanced budget, agencies providing vital human services and other services included in line-item veto overrides have no guarantee that they will actually get the money they so desperately need.

(HARRISBURG, PA) June 30, 2015 -- Dr. Mark Price, an economist and interim research director of the Pennsylvania Budget and Policy Center, issued the following statement in response to the Pennsylvania Senate’s passage today of HB 1192, which now goes to Gov. Wolf for his consideration:

“We are disappointed that House and Senate Republicans approved a 2015-16 state budget plan that will prolong the failed, cuts-only approach to governing pursued under the previous administration. Apparently, no lessons have been learned from Pennsylvania’s poor economic performance over the past four years. Nor does this budget reflect the will of the majority of Pennsylvanians to fully restore state funding recently cut from education, provide property tax relief and enact a severance tax on gas drillers profiting from our natural resources.

Therefore, we urge Gov. Wolf to veto this ill-advised, hastily conceived and unilaterally developed budget.

 

(HARRISBURG, Pa.) – June 28, 2015 -- The 2015-16 proposed budget passed in a party-line vote by the Pennsylvania House yesterday, and under consideration by the Pennsylvania Senate tonight, continues to rely on the kind of one-time revenue sources and budget fixes that have patched together the state’s last four budgets and that have led to repeated downgrades of the state’s bond rating.

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