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PRINTER'S NO. 1334
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
953
Session of
2017
INTRODUCED BY REGAN, RESCHENTHALER, SCARNATI, WHITE, FOLMER,
STEFANO AND AUMENT, NOVEMBER 15, 2017
REFERRED TO FINANCE, NOVEMBER 15, 2017
AN ACT
Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
act relating to tax reform and State taxation by codifying
and enumerating certain subjects of taxation and imposing
taxes thereon; providing procedures for the payment,
collection, administration and enforcement thereof; providing
for tax credits in certain cases; conferring powers and
imposing duties upon the Department of Revenue, certain
employers, fiduciaries, individuals, persons, corporations
and other entities; prescribing crimes, offenses and
penalties," in corporate net income tax, further providing
for imposition of tax.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 402(b) of the act act of March 4, 1971
(P.L.6, No.2), known as the Tax Reform Code of 1971, is amended
to read:
Section 402. Imposition of Tax.--* * *
(b) The annual rate of tax on corporate net income imposed
by subsection (a) for taxable years beginning for the calendar
year or fiscal year on or after the dates set forth shall be as
follows:
Taxable Year Tax Rate
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January 1, 1995, [and
each taxable year
thereafter 9.99%]
through December
31, 2017 9.99%
January 1, 2018,
through December
31, 2018 8.99%
January 1, 2019,
through December
31, 2019 7.99%
January 1, 2020,
through December
31, 2020 6.99%
January 1, 2021, and
each taxable year
thereafter 5.99%
* * *
Section 2. This act shall take effect in 60 days.
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