They’re Off and Running….
On January 28-30, 2019 both the House and Senate were back to kick off the 2019/2020 legislative session and wasted no time to introduce bills, which are of interest to tax practitioners. I’ve grouped the legislation by type for ease of reference. As in the movie Groundhog Day, some legislation…
SB 1056, amends the Tax Reform Code to align state law with the federal law’s 100% bonus depreciation. Signed in the House and the Senate on June 22, 2018.
SB 735, would amend the Real Estate Tax Sale Law to establish an optional County Demolition and Rehabilitation Fund in certain counties, funded by…
Tax Practitioners and Finance VPs should keep an eye out this week for significant activity coming out of the Pennsylvania legislature that will align the PA tax structure with that of the feds—in some areas.
The House Finance Committee will vote on June 19 on SB 1056, which will align PA bonus depreciation with…
On December 22, 2017, the Pennsylvania Department of Revenue (“Department”) issued Corporation Tax Bulletin 2017-02, which announced that Pennsylvania will no longer allow the 100% deduction for depreciation of qualified property under IRC § 168(k) for property placed in service after September 27, 2017. Accordingly, any taxpayers who take advantage of the 100% bonus…
On July 27, 2017, the Pennsylvania Senate passed a revenue plan that includes a new 2% natural gas severance tax and the requirement that online marketplaces such as Amazon and eBay collect sales tax on sales they conduct on behalf of vendors. This plan contained in HB 542 was the result of a deal between…
On Tuesday, February 7th, Governor Wolf presented his 2017 budget address to a joint session of the Pennsylvania General Assembly. The Governor’s proposal includes a $1 Billion increase in the tax burden on Pennsylvania businesses and individuals. While the Governor stated that he was proposing no “broad-based tax increases,” his budget does raise revenues significantly…
