Posted: | December 21, 2016 10:10 AM |
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From: | Representative Scott Conklin |
To: | All House members |
Subject: | Combined Reporting (former HB1758) |
In the near future, I will re-introduce legislation (former HB 1758) that will enact combined reporting, a necessary step in closing the “Delaware Loophole.” Specifically, my bill requires corporations and their related subsidiaries to file taxes as a single company for state Corporate Net Income Tax purposes. Doing so would abolish a wide array of tax avoidance strategies that large foreign and multi-state corporations use to elude paying their fair share of taxes to Pennsylvania. In addition, combined reporting will make it easier for the Department of Revenue to collect taxes due on corporate income earned in Pennsylvania. If enacted, combined reporting could generate up to $700 million in additional annual revenues. Please join me in cosponsoring this important legislation. Previous Cosponsors: O'BRIEN, BRIGGS, BURNS, COHEN, FABRIZIO, MAHONEY, NEILSON, STURLA, and THOMAS |
Introduced as HB1719