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Senate of Pennsylvania
Session of 2015 - 2016 Regular Session


Posted: December 5, 2014 10:34 AM
From: Senator Michele Brooks
To: All Senate members
Subject: Corporate Tax Reform
In the near future, I plan to introduce legislation amending the Tax Reform Code of 1971 to reduce the Corporate Net Income Tax rate.

My legislation will reduce the Corporate Net Income Tax from its current rate of 9.99 percent by 0.5 percent every year over a period of six years beginning in 2016. The rate will reach 6.99 percent in 2021 and remain at that level thereafter.

Taking this step in improving Pennsylvania’s business tax climate will provide businesses an incentive to locate or remain in Pennsylvania and the tax relief they need to increase the number of jobs and spur Pennsylvania’s economy.

This legislation will be similar to legislation I introduced in the House, House Bill 2162. Please join me in brining jobs to Pennsylvania by improving the Commonwealth’s business tax climate.

Introduced as SB443