Big Four capability, boutique economics: how MJ Associates delivered its first Pillar Two filing using OrbitaxFrom Completed Calculations to an Accepted GIR in 10 Days
OrbitaxOrbitax

Pennsylvania Cutting Corporate Net Income Tax Rate and Introducing New Nexus Rules

|Approved Changes|United States
United States

On 8 July 2022, the governor of the U.S. State of Pennsylvania signed House Bill 1342, which contains various tax measures. One of the key measures is a reduction in the rate of tax on corporate net income from 9.99% to 4.99% as follows for taxable years beginning:

  • 1 January 2023 to 31 December 2023 - 8.99%
  • 1 January 2024 to 31 December 2024 - 8.49%
  • 1 January 2025 to 31 December 2025 - 7.99%
  • 1 January 2026 to 31 December 2026 - 7.49%
  • 1 January 2027 to 31 December 2027 - 6.99%
  • 1 January 2028…

Continue reading with a Pro Subscription

Unlock full Orbitax Tax News content, including a historical database of tax news, alerts, and analysis from our network of tax experts, all tailored to your company footprint. Now includes Orbitax XatBot AI Tax Assistant.

Free trial available. Cancel anytime. Free Orbitax account required.

Already a Pro or Pro+ subscriber? Sign in to Orbitax to continue reading.