Law360, New York (August 2, 2013, 1:03 PM EDT) -- After months of negotiation surrounding Pennsylvania’s budget, the General Assembly passed and Gov. Tom Corbett signed into law Act 52, which includes another extension of the franchise tax, an increased cap on net operating loss (NOL) deductions, a related-party add-back, market-based sales-factor sourcing, and much more.
Franchise Tax Lives On
The last year of the franchise tax was supposed to be 2009. Then it was extended to 2010. Then 2013. Act 52 has extended it yet again — this time to 2015. So, under the new...
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