PRINTER'S NO. 1398
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
1009
Session of
2017
INTRODUCED BY CORMAN, SCARNATI, EICHELBERGER, DiSANTO, FOLMER,
RAFFERTY, LAUGHLIN, RESCHENTHALER, MENSCH, VOGEL, BREWSTER,
REGAN, VULAKOVICH, BARTOLOTTA, WARD AND STEFANO,
DECEMBER 28, 2017
REFERRED TO FINANCE, DECEMBER 28, 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 personal income tax, providing for
carryforward of losses by individual taxpayers and further
providing for limitation of pass-thru of losses to
shareholders.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The act of March 4, 1971 (P.L.6, No.2), known as
the Tax Reform Code of 1971, is amended by adding a section to
read:
Section 304.3. Carryforward of Losses by Individual
Taxpayers.--(a) For a tax year beginning after December 31,
2017, except as set forth in subsection (b), all of the
following apply:
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