1Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
2act relating to tax reform and State taxation by codifying
3and enumerating certain subjects of taxation and imposing
4taxes thereon; providing procedures for the payment,
5collection, administration and enforcement thereof; providing
6for tax credits in certain cases; conferring powers and
7imposing duties upon the Department of Revenue, certain
8employers, fiduciaries, individuals, persons, corporations
9and other entities; prescribing crimes, offenses and
10penalties," in corporate net income tax, further providing
11for imposition of tax.

12The General Assembly of the Commonwealth of Pennsylvania
13hereby enacts as follows:

14Section 1. Section 402(b) of the act of March 4, 1971
15(P.L.6, No.2), known as the Tax Reform Code of 1971, amended
16June 29, 2002 (P.L.559, No.89), is amended to read:

17Section 402. Imposition of Tax.--* * *

18(b) The annual rate of tax on corporate net income imposed
19by subsection (a) for taxable years beginning for the calendar

1year or fiscal year on or after the dates set forth shall be as
2follows:

3Taxable Year	Tax Rate
4January 1, 1995, [and 5each taxable year 6thereafter	9.99%]
7through December 831, 2012	9.99%
9January 1, 2013, 10through December 1131, 2013	8.49%
12January 1, 2014, and 13each taxable year 14thereafter	6.99%

15* * *

16Section 2. The amendment of section 402(b) of the act shall
17apply to taxable years on or after December 31, 2012.

18Section 3. This act shall take effect immediately.