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House approves combined reporting tax measure in tight final vote
Summary
After extended debate on economic competitiveness, the House passed House Bill 16-10 to require combined reporting for corporate net income tax. Supporters said it closes loopholes; opponents said it risks competitiveness.
HARRISBURG — The Pennsylvania House on June 25 passed House Bill 16-10, a major change to corporate tax administration that institutes combined reporting for corporate net income tax, after more than an hour of floor debate on the measure’s economic and legal implications.
The bill’s sponsor, Representative Fiedler, described combined reporting as a tool that “closes a loophole that allows corporations to hide profits for…
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