HB 1414 — An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in corporate net income tax, further providing for imposition of tax.

PRINTER'S NO.   1615

                     THE GENERAL ASSEMBLY OF PENNSYLVANIA



                         HOUSE BILL
                         No. 1414
                                                Session of
                                                  2025

     INTRODUCED BY KOZAK, BERNSTINE, KAUFFMAN, MARCELL, MOUL,
        T. JONES, COOPER, RIVERA, SHAFFER, GAYDOS, TWARDZIK, ROWE,
        GILLEN AND DAVANZO, MAY 5, 2025

     REFERRED TO COMMITTEE ON FINANCE, MAY 6, 2025


                                     AN ACT
 1   Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
 2      act relating to tax reform and State taxation by codifying
 3      and enumerating certain subjects of taxation and imposing
 4      taxes thereon; providing procedures for the payment,
 5      collection, administration and enforcement thereof; providing
 6      for tax credits in certain cases; conferring powers and
 7      imposing duties upon the Department of Revenue, certain
 8      employers, fiduciaries, individuals, persons, corporations
 9      and other entities; prescribing crimes, offenses and
10      penalties," in corporate net income tax, further providing
11      for imposition of tax.
12      The General Assembly of the Commonwealth of Pennsylvania
13   hereby enacts as follows:
14      Section 1.    Section 402(b) of the act of March 4, 1971
15   (P.L.6, No.2), known as the Tax Reform Code of 1971, is amended
16   to read:
17      Section 402.    Imposition of Tax.--* * *
18      (b)     The annual rate of tax on corporate net income imposed
19   by subsection (a) for taxable years beginning for the calendar
20   year or fiscal year on or after the dates set forth shall be as
21   follows:
22            Taxable Year                     Tax Rate
 1   January 1, 1995,
 2      through December
 3      31, 2022                         9.99%
 4   January 1, 2023,
 5      through December
 6      31, 2023                         8.99%
 7   January 1, 2024,
 8      through December
 9      31, 2024                         8.49%
10   January 1, 2025,
11      through December
12      31, 2025                         7.99%
13   January 1, 2026,
14      through December
15      31, 2026                     [7.49%] 6.99%
16   January 1, 2027,
17      through December
18      31, 2027                     [6.99%] 5.99%
19   January 1, 2028,
20      [through December
21      31, 2028] and each
22      taxable year
23      thereafter                   [6.49%] 4.99%
24   [January 1, 2029,
25      through December
26      31, 2029                         5.99%
27   January 1, 2030,
28      through December
29      31, 2030                         5.49%
30   January 1, 2031, and

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1     each taxable year
2     thereafter                             4.99%]
3     * * *
4     Section 2.    This act shall take effect immediately.




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