|Posted:||December 29, 2016 02:07 PM|
|From:||Representative Jason Ortitay|
|To:||All House members|
|Subject:||Corporate Net Income Tax Reducation Legislation - former HB 1780|
|In the near future, I plan to reintroduce legislation amending the Tax Reform Code to reduce Pennsylvania’s Corporate Net Income Tax (CNIT) to a more competitive rate.
As many of you know, Pennsylvania’s CNIT rate of 9.99% is currently the second highest in the nation. This places our Commonwealth at a disadvantage when it comes to attracting new businesses, which in turns adversely effects our economic growth and employment rates. Specifically, my legislation will gradually reduce the CNIT over a five-year period from its current 9.99% rate, to a much more competitive 4.99% rate.
Please join me in sponsoring this important legislation.
Introduced as HB130