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

July 18, 2014

Once Upon a Time: An Analysis of the 2014-15 General Assembly Approved Budget

The $29.0 billion 2014-15 state General Fund budget enacted earlier this month fails to confront Pennsylvania’s serious revenue problems. Lawmakers pretended that the half billion dollar revenue shortfall in 2013-14 did not exist and “balanced” the 2014-15 budget with one-time transfers, accounting tricks, and phantom revenues.

June 2014 revenue collections exceeded estimate for the first time since November 2013, but they were still far below revenue targets for the fiscal year. In fact, revenues fell short of revenues collected in 2012-13. The 2014-15 budget plan assumes hearty revenue growth to fund program increases.

June 30, 2014

"The budget adopted by the Senate today relies on revenue estimates that are no more than magical thinking. It leaves a ticking time bomb that will explode before the year is out. The Pennsylvania Constitution requires a balanced budget. This budget does not meet that obligation."

Here is how the Senate budget proposal works out on paper - including program funding levels.  We will have commentary and analysis of this later today.

April 15, 2014

With the deadline for filing state and federal tax returns upon us, the Pennsylvania Budget and Policy Center has put together the following resources to help you understand what your tax dollars support and why it is so important that we close corporate tax loopholes at the state and federal level.

March 20, 2014

What do Pennsylvania-based companies PPL, H.J. Heinz, Airgas, Allegheny Technologies, Hershey, and Comcast have in common? They each pay little or nothing in state income taxes, according to a new report from the Institute on Taxation and Economic Policy (ITEP) and Citizens for Tax Justice (CTJ).

March 20, 2014

Many profitable Fortune 500 companies including Pennsylvania-based PPL, H.J. Heinz, Airgas, Allegheny Technologies, Hershey, and Comcast are paying little or nothing in state income taxes thanks to loopholes, tax breaks, and crafty accounting, according to a new report from the Institute on Taxation and Economic Policy (ITEP) and Citizens for Tax Justice (CTJ).

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