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
Did You Get The Memo? Business growth, lottery winners and charter school programs

Did You Get The Memo? Business growth, lottery winners and charter school programs

It was a slow week in Harrisburg, with lawmakers returning to their districts prior to next week’s session. But just because state legislators weren’t in the Capitol doesn’t mean they weren’t busy introducing new legislation. This week there were a number of new proposals introduced as co-sponsorship memos, detailing upcoming bills in the state legislature. 

If you missed this week’s new co-sponsorship memos, continue reading to learn about the many ideas lawmakers have for Pennsylvania and to keep track of what proposals could become law.
Friday, April 26, 2019/Author: Justin Sweitzer
Categories: News and Views
House committee advances regulatory reform bills

House committee advances regulatory reform bills

The House State Government Committee advanced two bills during Tuesday’s voting session that would limit regulations and expedite the permitting process.

Tuesday, March 13, 2018/Author: Taylor Allen
Categories: News and Views
Republican lawmakers introduce regulatory reform report, bill package

Republican lawmakers introduce regulatory reform report, bill package

A group of more than two dozen legislators, business organizations, academics, and advocacy organizations stood together Tuesday in the state Capitol’s Media Center to unveil a report on Pennsylvania’s regulatory reform issues and a package of bills they hope will restructure the state’s regulatory environment in an effort to spur economic development and job creation.

Tuesday, January 16, 2018/Author: Jason Gottesman
Business groups urge General Assembly to act on pension reform this session

Business groups urge General Assembly to act on pension reform this session

Despite having few, if any, remaining substantive voting days in the 2015-2016 legislative session, business groups have gathered together to call on the General Assembly to enact a pension reform bill by the end of session.

Friday, November 4, 2016/Author: Jason Gottesman
Categories: News and Views
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