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PRINTER'S NO. 2221
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
603
Session of
2021
INTRODUCED BY MIHALEK, KAIL, OWLETT, PICKETT, MILLARD, O'NEAL,
FRITZ, KEEFER, ECKER, WARNER, DUNBAR, CAUSER, TOOHIL, IRVIN
AND MERCURI, OCTOBER 4, 2021
REFERRED TO COMMITTEE ON FINANCE, OCTOBER 4, 2021
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, further providing for
special tax provisions for poverty; and, in corporate net
income tax, further providing for imposition of tax.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Sections 304(d)(1) and 402(b) of the act of March
4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, are
amended to read:
Section 304. Special Tax Provisions for Poverty.--* * *
(d) Any claim for special tax provisions hereunder shall be
determined in accordance with the following:
(1) If the poverty income of the claimant during an entire
taxable year is six thousand five hundred dollars ($6,500) or
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less, or, in the case of a married claimant, if the joint
poverty income of the claimant and the claimant's spouse during
an entire taxable year is thirteen thousand dollars ($13,000) or
less, the claimant shall be entitled to a refund or forgiveness
of any moneys which have been paid over to (or would except for
the provisions of this act be payable to) the Commonwealth under
the provisions of this article, with an additional income
allowance of nine thousand five hundred dollars ($9,500) for
each dependent of the claimant. The dollar amounts in this
paragraph shall be adjusted for inflation in subsequent fiscal
years by an amount not to exceed an annual cost-of-living
adjustment calculated by applying any upward percentage change
in the Consumer Price Index immediately prior to the date the
adjustment is due to take effect. The department shall transmit
notice of the adjusted income amounts to the Legislative
Reference Bureau for publication in the Pennsylvania Bulletin.
For purposes of this subsection, a claimant shall not be
considered to be married if:
(i) The claimant and the claimant's spouse file separate
returns; and
(ii) The claimant and the claimant's spouse live apart at
all times during the last six months of the taxable year or are
separated pursuant to a written separation agreement.
* * *
Section 402. Imposition of Tax.--* * *
(b) The annual rate of tax on corporate net income imposed
by subsection (a) for taxable years beginning for the calendar
year or fiscal year on or after the dates set forth shall be as
follows:
Taxable Year Tax Rate
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January 1, 1995, and
each taxable year
thereafter 9.99%
January 1, 2022 8.99%
January 1, 2023 7.99%
January 1, 2024 6.99%
January 1, 2025 5.99%
* * *
Section 2. This act shall apply to tax years beginning after
December 31, 2021.
Section 3. This act shall take effect immediately.
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