PRINTER'S NO. 1340
No. 1163 Session of 1975
INTRODUCED BY WRIGHT, D. S. HAYES AND BURNS, APRIL 29, 1975
REFERRED TO COMMITTEE ON FINANCE, APRIL 29, 1975
AN ACT
1 Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
2 act relating to tax reform and State taxation by codifying
3 and enumerating certain subjects of taxation and imposing
4 taxes thereon; providing procedures for the payment,
5 collection, administration and enforcement thereof; providing
6 for tax credits in certain cases; conferring powers and
7 imposing duties upon the Department of Revenue, certain
8 employers, fiduciaries, individuals, persons, corporations
9 and other entities; prescribing crimes, offenses and
10 penalties," further providing for credits against tax imposed
11 by other states.
12 The General Assembly of the Commonwealth of Pennsylvania
13 hereby enacts as follows:
14 Section 1. Subsections (a) and (b) of section 314, act of
15 March 4, 1971 (P.L.6, No.2), known as the "Tax Reform Code of
16 1971," added August 31, 1971 (P.L.362, No.93), are amended to
17 read:
18 Section 314. Income Taxes Imposed by Other States.--[(a)] A
19 resident taxpayer before allowance of any credit under section
20 312 shall be allowed a credit against the tax otherwise due
21 under this article for [the amount of] any income tax, wage tax
22 or tax on or measured by gross or net earned or unearned income
23 imposed on him by another state. [with respect to income which
1 is also subject to tax under this article.
2 (b) The credit provided under this section shall not exceed
3 the proportion of the tax otherwise due under this article that
4 the amount of the taxpayer's income subject to tax by the other
5 jurisdiction bears to his entire taxable income.]
D28L56JD/19750H1163B1340 - 2 -