Exempting non-grantor trusts administered in state from personal income taxation
Modifications to Income Tax
Permanent Reductions to State Income Tax
In personal income tax, further providing for definitions, providing for elective tax imposed at pass-through entity level and further providing for taxability of partners and for income of a Pennsylvania S corporation.
Provides with respect to various credits, deductions, exclusions, and exemptions associated with corporate income tax (RE DECREASE SD EX See Note)
A bill for an act relating to state and local finance and the administration of the tax and related laws by the department of revenue, and including effective date, applicability, and retroactive applicability provisions. (Formerly SSB 1148.) Effective date: 06/01/2023, 07/01/2023, 01/01/2024, 01/01/2026. Applicability date: 01/01/2023, 07/01/2024.