Bill Information - History

An Act amending the act of March 4, 1971 (P. L. 6, No. 2), known as the Tax Reform Code of 1971, further defining "manufacture" for sales tax purposes; excluding magazine subscriptions and certain office building cleaning services from sales and use tax; providing specific situs provisions for local sales tax collection; further providing for special tax provisions for poverty and for Pennsylvania S corporations; requiring all employers to withhold wage taxes levied by cities of the first class; further providing for the taxation of business trusts, for loss carryforward and for the rate of corporate net income tax; repealing corporate net income tax revenue allocations to the Industrial Development Fund; further defining "capital stock value" for capital stock and franchise tax purposes; further providing for the bank shares tax, for the alternative bank shares tax and for the tax on title insurance companies; providing for the disclosure of certain gross receipts taxes; excluding transfers to family farm partnerships; providing for the imposition of a tax on the gross receipts of vehicle rental companies renting private passenger motor vehicles and for the collection and disposition of the tax revenues; providing a tax credit to certain business firms who contribute to neighborhood organizations and whose activities tend to upgrade impoverished areas; further providing for malt beverage limited tax credit; exempting spousal transfers from inheritance taxation; providing for the taxation of certain spousal trusts; providing for a transportation assistance fund; imposing additional powers and duties on the Department of Revenue; and making repeals.