Closing the loophole: Why some businesses pay less in corporate taxes and how Democrats want to fix it

Closing the loophole: Why some businesses pay less in corporate taxes and how Democrats want to fix it

Currently, businesses and corporations in Pennsylvania can shift their earnings to states with lighter tax burdens to pay less in corporate net income taxes.

 

It’s a strategy that is commonly referred to as the “Delaware loophole” since Delaware does not levy a corporate net income tax on business subsidiaries holding intangible assets. This allows multi-state businesses to transfer money to their Delaware-based subsidiary through transactions and other maneuvers to avoid paying the CNIT in other states, including Pennsylvania.

Wednesday, July 17, 2019/Author: Justin Sweitzer
Categories: News and Views
Allegheny County state legislative delegation activity for October 23

Allegheny County state legislative delegation activity for October 23

The state House and Senate concluded legislative action for the 2017-2018 state budget this week. 

Here's how the Pittsburgh and Allegheny County delegation voted on key budget bills. 

Friday, October 27, 2017/Author: Alanna Koll
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