Of Counsel Mike Semes delivered a presentation about the significance of Pennsylvania HB 1219, as part of a Pennsylvania Chamber of Business & Industry webinar on Oct.11.
HB 1219, which passed in the Pennsylvania House of Representatives, is now pending before the Pennsylvania Senate. It would substantially expand the Pennsylvania corporate tax base, Semes says, by taxing many types of foreign income, imposing combine reporting, and granting the Secretary of Revenue unbridled discretionary authority to modify a taxpayer’s income, among other things.