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Cutting tax rate to make Pa. business friendlier gains support as state budget talks get underway

By Soapbox Group
June 10, 2022
  • Pennsylvania
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By: Jan Murphy

As state budget negotiations get underway in earnest this month, some tax relief appears to be on the way to make Pennsylvania business friendlier.

Legislation to cut Pennsylvania’s tax on corporate profits won passage in a Senate committee on Monday that would incrementally lower the state’s 9.99% corporate net income tax rate by 1% on Jan. 1, 2023. Then the rate would drop 1% on Jan. 1 in each of the following years until it reaches 6.99% in 2025.

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Soapbox Group

About Soapbox Group

Our national team includes lawyers and professionals with experience in federal, state and local government with specialists in public policy, law, business, and public affairs. We help clients to anticipate, mitigate, and leverage matters of government through innovative, holistic public policy and regulation strategies.

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