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.
 

Statutes/Laws affected:
Printer's No. 3338: P.L.6, No.2