![]() An overall revenue increase of 1.3% is projected for fiscal 2013-14. ![]() The Corporate Net Income Tax and Capital Stock & Franchise Tax would account for 9.6%. The General Fund budget would be increased by 2.4%, to $28.4 billion while the total operating budget (including federal funds and other special purpose funds) would be set at $66.7 billion.Īs with past budgets, the bulk of the funding for the General Fund budget would be derived from the Personal Income Tax (40.2%) and the Sales & Use Tax (32.0%). Pennsylvania Governor Tom Corbett has proposed significant corporate tax cuts and fuel tax increases as part of his proposed 2013-14 budget, presented on February 5th. ![]() IN THIS ISSUE: PA Governor Proposes Corporate Tax Cuts l Add-Back Legislation Reintroduced l PA Supreme Court Issues Business / Nonbusiness Income Decision l Philadelphia Property Reassessments l Commonwealth Court Addresses Additional IFTA Issues l Commonwealth Court Opinion Contains Important Lessons l Administrative Bank Attachment l PA Supreme Court Invalidates Local “Flat Tax” on Businesses l Use of Appeal Filing Date as Valuation Date for Assessment Appeals PA Governor Proposes Corporate Tax Cuts & Fuel Tax Increases
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