SB253

Pennsylvania SB253 amends the personal income tax to allow a credit for taxes paid to other states on income also taxed by Pennsylvania.

Pennsylvania SB253 modifies the personal income tax law to provide a credit for income taxes paid to other states on income also subject to Pennsylvania tax. This credit applies to residents before any other credits are considered. The credit cannot exceed the proportion of the tax due under Pennsylvania law that the income subject to tax by another jurisdiction represents of the taxpayer's total taxable income. The bill also allows for a certified statement in lieu of submitting a copy of each state return. The amendments apply to taxable years beginning after December 31, 2021.