PRINTER'S NO. 1682
No. 1155 Session of 2004
INTRODUCED BY THOMPSON, PICCOLA, LEMMOND, ERICKSON, RAFFERTY,
PIPPY, COSTA, SCARNATI, C. WILLIAMS, MADIGAN, BRIGHTBILL,
EARLL, TOMLINSON, GREENLEAF, GORDNER, ARMSTRONG, MOWERY,
RHOADES, WENGER, CORMAN, JUBELIRER, PILEGGI, DENT,
WONDERLING, CONTI, M. WHITE, D. WHITE, STACK, BOSCOLA, WAUGH,
ROBBINS, ORIE AND PUNT, JUNE 9, 2004
REFERRED TO FINANCE, JUNE 9, 2004
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 imposition of the capital
11 stock and franchise tax.
12 The General Assembly of the Commonwealth of Pennsylvania
13 hereby enacts as follows:
14 Section 1. Section 602(h) of the act of March 4, 1971
15 (P.L.6, No.2), known as the Tax Reform Code of 1971, amended
16 December 23, 2003 (P.L.250, No.46), is amended to read:
17 Section 602. Imposition of Tax.--* * *
18 (h) The rate of tax for purposes of the capital stock and
19 franchise tax for taxable years beginning within the dates set
20 forth shall be as follows:
1 Taxable Year Regular Rate Surtax Total Rate
2 January 1, 1971, to
3 December 31, 1986 10 mills 0 10 mills
4 January 1, 1987, to
5 December 31, 1987 9 mills 0 9 mills
6 January 1, 1988, to
7 December 31, 1990 9.5 mills 0 9.5 mills
8 January 1, 1991, to
9 December 31, 1991 11 mills 2 mills 13 mills
10 January 1, 1992, to
11 December 31, 1997 11 mills 1.75 mills 12.75 mills
12 January 1, 1998, to
13 December 31, 1998 11 mills .99 mills 11.99 mills
14 January 1, 1999, to
15 December 31, 1999 10.99 mills 0 10.99 mills
16 January 1, 2000, to
17 December 31, 2000 8.99 mills 0 8.99 mills
18 January 1, 2001, to
19 December 31, 2001 7.49 mills 0 7.49 mills
20 January 1, 2002, to
21 December 31, 2003 7.24 mills 0 7.24 mills
22 January 1, 2004, to
23 December 31, 2004 6.99 mills 0 6.99 mills
24 [January 1, 2005, to
25 December 31, 2005 5.99 mills 0 5.99 mills
26 January 1, 2006, to
27 December 31, 2006 4.99 mills 0 4.99 mills
28 January 1, 2007, to
29 December 31, 2007 3.99 mills 0 3.99 mills
30 January 1, 2008, to
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1 December 31, 2008 2.99 mills 0 2.99 mills
2 January 1, 2009, to
3 December 31, 2009 1.99 mills 0 1.99 mills
4 January 1, 2010, to
5 December 31, 2010 .99 mills 0 .99 mills]
6 January 1, 2005, to
7 December 31, 2005 5.50 mills 0 5.50 mills
8 January 1, 2006, to
9 December 31, 2006 4.00 mills 0 4.00 mills
10 January 1, 2007, to
11 December 31, 2007 3.00 mills 0 3.00 mills
12 January 1, 2008, to
13 December 31, 2008 2.00 mills 0 2.00 mills
14 January 1, 2009, to
15 December 31, 2009 1.00 mills 0 1.00 mills
16 * * *
17 Section 2. This act shall take effect immediately.
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