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Article: Pennsylvania Business Tax Reform Commission Releases Final Report; Recommends Cutting State's Corporate Net Income Tax to 6.99 Percent.

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PR Newswire
Article date:
November 30, 2004
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HARRISBURG, Pa., Nov. 30 /PRNewswire/ -- A report released today by the Pennsylvania Business Tax Reform Commission recommends a 30 percent reduction in the state's Corporate Net Income (CNI) Tax. The new 6.99 percent rate would be lower than all of the Commonwealth's surrounding states.

The Commission's final report also recommends uncapping the amount of future Net Operating Losses that can be claimed by businesses, changing the apportionment structure for the CNI Tax and reforming the appeals process within the state Department of Revenue.

Governor Edward G. Rendell created the 12-member Commission on March 4 to recommend changes to Pennsylvania's ... 







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