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PA HB760

Bill

Official Source

Status

Introduced

3/3/2025

Primary Sponsor

Dallas Kephart

Click for details

Origin

House of Representatives

2025-2026 Regular Session

AI Summary

  • Amends Pennsylvania's Tax Reform Code of 1971 to accelerate the reduction of the corporate net income tax rate
  • Reduces the 2026 tax rate from the currently scheduled 7.49% to 5.99%
  • Establishes a permanent 4% corporate net income tax rate beginning January 1, 2027, eliminating the previously scheduled gradual reductions through 2031
  • Current law would have reduced the rate incrementally to 4.99% by 2031; this bill reaches a lower rate (4%) four years earlier
  • Takes effect immediately upon enactment

Legislative Description

In corporate net income tax, further providing for imposition of tax.

Last Action

Referred to Finance

3/3/2025

Committee Referrals

Finance3/3/2025

Full Bill Text

No bill text available