Corporate Net Income

News & Analysis as of

New Jersey Tax Court Finds Two Pennsylvania Taxes Are Not Required To Be Added Back

In a Corporation Business Tax (CBT) case, PPL Electric Utilities Corporation v. Director, Division of Taxation, Dkt. No. 000005-2011 (N.J. Tax. Ct. Oct. 2, 2014), the Tax Court of New Jersey found for the taxpayer and held...more

New Corporation Tax Notices and Statements

In 2013, the Pennsylvania Department of Revenue implemented a “modernized” computer system for processing corporate tax returns and maintaining corporate tax accounts for Capital Stock Tax, Foreign Franchise Tax, Corporate...more

Are Corporations Profitable?

Do corporations make a profit? I think it is beyond peradventure that some corporations make a profit. But do most (i.e., more than half) make a profit? If more than half do make a profit, how many more than half?...more

Significant Pennsylvania Tax Changes

The General Assembly made significant changes to a number of Pennsylvania taxes as part of the 2013-2014 budget process. These changes were enacted in Act 52, signed into law on July 9, 2013, and have various effective dates....more

PA Capital Stock/Franchise Tax Phase-out Deferred; Related Party Addback Enacted; Numerous Other Tax and Credit Changes Made

On June 30th Governor Corbett signed a $28.4 billion state appropriations package which provides modest increases in some areas and flat funding in others. Although the popular press suggested that the budget included no...more

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