Pennsylvania: Tax and unclaimed property rule changes | KPMG | GLOBAL

Pennsylvania: Tax and unclaimed property changes are enacted

Pennsylvania: Tax and unclaimed property changes

Pennsylvania's governor on July 13, 2016, signed into law legislation that revises provisions of the Pennsylvania tax law.


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The legislation includes measures revising or concerning:

  • The taxation of digital goods
  • The tax treatment of vendor's discounts
  • A variety of sales and use tax changes affecting the timber industry, the taxation of packing materials and cartons, convention-related services 
  • Changes to the corporate net income tax due date, and amended reports
  • Bank shares taxation, including a rate increase and changes to the tax base determination and to the apportionment rules
  • A tax amnesty program 
  • An incentives program for data centers
  • Unclaimed property 

House Bill 1198 implements the budget, and includes as revenue raisers: (1) a substantial increase to the tax on cigarette and tobacco products; (2) extending the tax to smokeless tobacco and e-cigarettes; and (3) other non-recurring items, such as the establishment of a tax amnesty program. 

House Bill 1605 makes a number of changes to the unclaimed property laws.


Read a July 2016 report [PDF 188 KB] prepared by KPMG LLP

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