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House Co-Sponsorship Memoranda
House of Representatives
Session of 2013 - 2014
Regular Session
MEMORANDUM
| Posted: | January 16, 2013 03:19 PM |
|---|---|
| From: | Representative Jeffrey P. Pyle |
| To: | All House members |
| Subject: | Amending the Tax Reform Code of 1971 - Pennsylvania Capital Stock and Foreign Franchise Tax |
| In the near future, I plan to re-introduce former House Bill 882, 2011-2012, the Pennsylvania Capital Stock and Foreign Franchise Tax, that would exempt businesses engaged in the production and processing of coal from the Pennsylvania Capital Stock and Foreign Franchise Tax. As you know, the coal industry throughout the history of the Commonwealth has helped Pennsylvania become a leader in manufacturing and energy. In fact, today, Pennsylvania remains the 4th state in coal production. However, although we have planned to eliminate the Capital Stock and Foreign Franchise Tax for years, this vital industry remains subject to this oppressive business tax while similar industries that process limestone, sand, gravel, slag, steel, textile or bulk chemical are exempt. Therefore, my legislation would lift this tax burden on those businesses that produce coal; allowing them to be more competitive with similar industries and coal produces from out of state and protect and promote the jobs that depend upon this Pennsylvania resource. (Previous cosponsors were: AUMENT, COX, CUTLER, ELLIS, GABLER, GEIST, GROVE, HUTCHINSON, KORTZ, METCALFE, OBERLANDER, PICKETT, REESE, SAYLOR, STERN, STEVENSON, TALLMAN AND VULAKOVICH.) |
Introduced as HB445