The Pennsylvania Department of Revenue’s plan to dramatically increase the number of corporations being taxed has drawn reaction from lawmakers and think tanks.
State tax revenues in Pennsylvania amount to $38.4 billion, the fifth highest tally among the 50 states, according to newly released data from the U.S. Census Bureau.
Pennsylvania finished 16th in a new study by the Tax Foundation that ranks how dependent states are on individual income taxes.
Tax reforms and transparency laws have turned around entire state economies over the past decade, a recent report by the Institute for Reforming Government (IRG) highlights.
Pennsylvania has had a very good year – likely a historic one – for tax collections, earning nearly $1 billion more than anticipated in the fiscal year that ended June 30.
On paper, Pennsylvania has the second-highest corporate net income tax rate in the country, according to a report by the state’s Independent Fiscal Office.
Federal lawmakers have proposed tax reform legislation that provides long-overdue relief to small business job creators, which create two-thirds of new jobs in the country.
The year was 1986.
Efforts to fix Pennsylvania’s unbalanced state budget hit a new flashpoint Monday, as industry and some lawmakers pushed back against a plan to end a longtime sales tax exemption for commercial storage.
When we told Pennsylvanians to hold their applause after the Legislature submitted only half a budget – the spending half – by the state’s June 30 deadline, we should have also advised all to hold on to their wallets, too.