Pennsylvania SB655 introduces a personal health investment tax credit for qualified individuals.

Pennsylvania SB655 amends the Tax Reform Code of 1971 to introduce a personal health investment tax credit. Qualified individuals, including active-duty military, Pennsylvania National Guard, and reserve component members, can claim a tax credit for qualified sports and fitness expenses up to $600 per year. The bill also allows businesses to deduct costs for offering free fitness memberships to qualified individuals. The tax credit and deduction apply to taxable years beginning after December 31, 2024.

Pennsylvania SB655 introduces a personal health investment tax credit for qualified individuals.

Pennsylvania SB655 amends the Tax Reform Code of 1971 to introduce a personal health investment tax credit. Qualified individuals, including active-duty military, Pennsylvania National Guard, and reserve component members, can claim a tax credit for qualified sports and fitness expenses up to $600 per year. The bill also allows businesses to deduct costs for offering free fitness memberships to qualified individuals. The tax credit and deduction apply to taxable years beginning after December 31, 2024.