Following is a listing of legislative and executive action for the week of July 1. Members of the General Assembly are scheduled to return to session in September.
Delaware Loophole
Legislation is before Governor Tom Corbett that would allow the Department of Revenue to charge ad backs to corporations that use the so-called Delaware loophole solely to avoid paying Pennsylvania’s corporate net income tax (CNI). Gene Barr, president and CEO of the Pennsylvania Chamber of Business and Industry, said he worked closely with the department to limit the powers in pursuing businesses.
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