EDITORIAL: State lawmakers expected to agree to corporate tax cut | Opinion

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Governor Tom Wolf and the Republican-controlled state legislature have found something to agree on: Pennsylvania’s net corporate income tax, the second highest in the nation, is costing the State in lost business than it receives in income.

The legislature is expected to immediately pass the incumbent governor’s proposal to cut corporate taxes from 9.99% to 7.99% starting in 2023. This would move the state outside of the top 10 CNI states, even if that would still leave Pennsylvania at a disadvantage against nearby competitors. such as New York (6.5%) and Virginia (6%).

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