Bill > SB253

This bill modifies Pennsylvania's tax code to expand tax credit provisions for residents who pay income taxes to other states. Specifically, the bill broadens the types of business entities eligible for the tax credit to include limited liability companies and partnerships, and allows for both direct and indirect ownership. The credit will continue to be limited to the proportion of taxes paid to another state relative to the taxpayer's total taxable income. Additionally, the bill provides more flexibility in documentation, allowing businesses and individuals to submit a certified statement with tax information instead of requiring copies of each state tax return. The changes will apply to tax years beginning after December 31, 2021, and the bill takes effect immediately. The purpose of these changes appears to be to provide more comprehensive tax relief for Pennsylvania residents who have income from businesses or investments in other states, while simplifying the reporting process for taxpayers.

Budget and Finance

https://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm?syear=2025&sind=0&body=S&type=B&bn=253