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| THE GENERAL ASSEMBLY OF PENNSYLVANIA |
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| SENATE BILL |
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| INTRODUCED BY WONDERLING, SCARNATI, ROBBINS, TOMLINSON, ORIE, VOGEL, BOSCOLA, BAKER, GORDNER, RAFFERTY, ALLOWAY, ERICKSON, PICCOLA, EARLL, CORMAN, BRUBAKER, PIPPY, GREENLEAF, WAUGH AND D. WHITE, MARCH 23, 2009 |
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| REFERRED TO FINANCE, MARCH 23, 2009 |
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| AN ACT |
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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," in corporate net income tax, further providing |
11 | for the rate of the corporate net income tax. |
12 | The General Assembly of the Commonwealth of Pennsylvania |
13 | hereby enacts as follows: |
14 | Section 1. Section 402(b) of the act of March 4, 1971 |
15 | (P.L.6, No.2), known as the Tax Reform Code of 1971, amended |
16 | June 29, 2002 (P.L.559, No.89), is amended to read: |
17 | Section 402. Imposition of Tax.-- * * * |
18 | (b) The annual rate of tax on corporate net income imposed |
19 | by subsection (a) for taxable years beginning for the calendar |
20 | year or fiscal year on or after the dates set forth shall be as |
21 | follows: |
| 1 | Taxable Year | Tax Rate | 2 3 4 5 6 7 | January 1, 1995, [and each taxable year thereafter] through taxable years beginning December 31, 2009 | 9.99% | 8 9 10 11 | January 1, 2010, through taxable years beginning December 31, 2010 | 9.49% | 12 13 14 15 | January 1, 2011, through taxable years beginning December 31, 2011 | 8.99% | 16 17 18 | January 1, 2012, and each taxable year thereafter | 8.49% |
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19 | * * * |
20 | Section 2. This act shall apply to taxable years beginning |
21 | after December 31, 2009. |
22 | Section 3. This act shall take effect immediately. |
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