Bill Text: PA SB1043 | 2009-2010 | Regular Session | Introduced

---

Bill Title: In capital stock and franchise tax, further providing for imposition of tax and for expiration.

Spectrum: Partisan Bill (Democrat 7-0)

Status: (Introduced - Dead) 2009-07-20 - Referred to FINANCE [SB1043 Detail]

Download: Pennsylvania-2009-SB1043-Introduced.html

---

PRINTER'S NO. 1332
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No. 1043 Session of2009
INTRODUCED BY MELLOW, COSTA, TARTAGLIONE, LOGAN, KITCHEN, FONTANA AND STOUT, JULY 20, 2009
REFERRED TO FINANCE, JULY 20, 2009
AN ACT
Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
act relating to tax reform and State taxation by codifying
and enumerating certain subjects of taxation and imposing
taxes thereon; providing procedures for the payment,
collection, administration and enforcement thereof; providing
for tax credits in certain cases; conferring powers and
imposing duties upon the Department of Revenue, certain
employers, fiduciaries, individuals, persons, corporations
and other entities; prescribing crimes, offenses and
penalties," in capital stock and franchise tax, further
providing for imposition of tax and for expiration.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 602(h) of the act of March 4, 1971
(P.L.6, No.2), known as the Tax Reform Code of 1971, amended
July 6, 2006 (P.L.319, No.67), is amended to read:
Section 602. Imposition of Tax.--* * *
(h) The rate of tax for purposes of the capital stock and
franchise tax for taxable years beginning within the dates set
forth shall be as follows:
Taxable Year Regular Rate Surtax Total Rate
January 1, 1971, to
December 31, 1986 10 mills 0 10 mills
January 1, 1987, to December 31, 1990 9 mills 0 9 mills
January 1, 1988, to December 31, 1990 9.5 mills 0 9.5 mills
January 1, 1991, to December 31, 1991 11 mills 2 mills 13 mills
January 1, 1992, to December 31, 1997 11 mills 1.75 mills 12.75 mills
January 1, 1998, to December 31, 1998 11 mills .99 mills 11.99 mills
January 1, 1999, to December 31, 1999 10.99 mills 0 10.99 mills
January 1, 2000, to December 31, 2000 8.99 mills 0 8.99 mills
January 1, 2001, to December 31, 2001 7.49 mills 0 7.49 mills
January 1, 2002, to December 31, 2003 7.24 mills 0 7.24 mills
January 1, 2004, to December 31, 2004 6.99 mills 0 6.99 mills
January 1, 2005, to December 31, 2005 5.99 mills 0 5.99 mills
January 1, 2006, to December 31, 2006 4.89 mills 0 4.89 mills
January 1, 2007, to December 31, 2007 3.89 mills 0 3.89 mills
[January 1, 2008, to December 31, 2008 2.89 mills 0 2.89 mills
January 1, 2009, to
20090SB1043PN1332 - 2 -
December 31, 2009 1.89 mills 0 1.89 mills
January 1, 2010, to December 31, 2010 .89 mills 0 .89 mills]
January 1, 2008, to December 31, 2011 2.89 mills 0 2.89 mills
January 1, 2012, to December 31, 2012 1.89 mills 0 1.89 mills
January 1, 2013, to December 31, 2013 .89 mills 0 .89 mills
* * *
Section 2. Section 607 of the act, amended December 23, 2003
(P.L.250, No.46), is amended to read:
Section 607. Expiration.--This article shall expire for
taxable years beginning after December 31, [2010] 2013.
Section 3. This act shall take effect in 60 days.
20090SB1043PN1332 - 3 -