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Article: 82 Percent of PA Corporations Pay No Corporate Net Income Tax, Keystone Research Center Finds; New Department of Revenue Data Showing Uneven Tax Burden Suggest Need for New Business Tax Strategy.
- Article from:
- PR Newswire
- Article date:
- February 25, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HARRISBURG, Pa. -- HARRISBURG, Pa., Feb. 25 /PRNewswire/ -- Eighty-two percent of corporations doing business in Pennsylvania pay nothing under the state's Corporate Net Income Tax (CNI) according to a review of new Pennsylvania Department of Revenue (DOR) data by the Keystone Research Center (KRC).
According to the KRC study, DOR data, published in December of 2002, also show that 63 percent of corporations doing business in Pennsylvania pay a combined $300 or less under the CNI plus the much-maligned Capital Stock and Franchise Tax (CSF). Just 170 corporations contribute over 50 percent of the total revenues collected under the CNI.
"We think these ...