Pennsylvania legislation · 2025-2026 Regular Session
Pennsylvania HB788: An Act amending the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, in mutual thrift institutions tax, further providing for imposition, report and payment of tax and exemptions.
Status: In committee, February 4, 2026
What the bill says
An act relating to tax reform and State taxation by codifying and enumerating certain subjects of taxation and imposing taxes thereon; providing procedures for the payment, collection, administration and enforcement thereof; providing for tax credits in certain cases; conferring powers and imposing duties upon the Department of Revenue, certain employers, fiduciaries, individuals, persons, corporations and other entities; prescribing crimes, offenses and penalties," in mutual thrift institutions tax, further providing for imposition, report and payment of tax and exemptions.
From the introduced text, March 3, 2025:
An act relating to tax reform and State taxation by codifying and enumerating certain subjects of taxation and imposing taxes thereon; providing procedures for the payment, collection, administration and enforcement thereof; providing for tax credits in certain cases; conferring powers and imposing duties upon the Department of Revenue, certain employers, fiduciaries, individuals, persons, corporations and other entities; prescribing crimes, offenses and penalties," in mutual thrift institutions tax, further providing for imposition, report and payment of tax and exemptions. The General Assembly of the Commonwealth of Pennsylvania hereby enacts as follows: Section 1. Section 1502(a) and (d)(2) of the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, are amended to Report and Payment of Tax; Exemptions.--(a) Every institution shall annually, by April 15 of each year beginning in the year 1984, make a report to the Department of Revenue, setting forth the entire amount of taxable net income received or accrued by said institution from all sources during the preceding year, and such other information as the department may require, and upon such taxable net income the said institution shall pay into the State Treasury, through the Department of Revenue, for the use of the Commonwealth, a State excise tax at the rate of eleven and one- half per cent for the calendar years …