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Department of Revenue outlines revenue estimates for cannabis, skill-game taxes and corporate reporting changes
Summary
Secretary Brown told the House Appropriations Committee that the governor’s proposals — adult-use cannabis, taxing skill-based gaming machines and combined corporate reporting (CNIT) changes — together account for substantial potential revenue and will be important to sustaining out-year budgets.
Secretary Brown, secretary of the Pennsylvania Department of Revenue, told the House Appropriations Committee on March 11 that the administration’s revenue proposals in the governor’s budget could substantially affect the commonwealth’s fiscal outlook.
Brown said the department’s current estimates for the budget planning cycle show adult-use cannabis, including fees and taxes, at about $730 million for the partial budget year and roughly $287 million in a full year of tax collections. For the governor’s skill-games proposal, Brown said the department projects roughly $766 million in the budget cycle, comprised primarily of taxes and smaller fee amounts. On combined reporting for corporate net income taxes, Brown said the department estimates about $328 million in the budget cycle, with larger impacts in later years as…
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