Pennsylvania HB2370 amends personal income tax rates and withholding requirements.

Pennsylvania HB2370 amends the Tax Reform Code of 1971 to adjust personal income tax rates. It sets a tax rate of 3.7% for residents and nonresidents, with a temporary reduction to 2.99% for the first six months after the act's effective date. The bill also modifies the withholding tax requirements for employers, ensuring that taxes are deducted from compensation for both resident and nonresident employees. The changes aim to provide a temporary tax relief while maintaining the overall tax structure.

Pennsylvania HB2370 amends personal income tax rates and withholding requirements.

Pennsylvania HB2370 amends the Tax Reform Code of 1971 to adjust personal income tax rates. It sets a tax rate of 3.7% for residents and nonresidents, with a temporary reduction to 2.99% for the first six months after the act's effective date. The bill also modifies the withholding tax requirements for employers, ensuring that taxes are deducted from compensation for both resident and nonresident employees. The changes aim to provide a temporary tax relief while maintaining the overall tax structure.