Pennsylvania has 2nd highest corporate tax – in the world

A new report from the The Tax Foundation finds that Pennsylvania’s combined federal and local corporate income tax rate is higher than any other industrialized nation, and trails only Iowa’s top rate.

At 41.5% (adjusting for federal deduction of state taxes) the tax rate for Pennsylvania corporation is about 2 percentage points higher than Japan, 7% higher than France, and 13.5% higher than Norway and Sweden. Click here for the full study.

Click here for video from our Policies & Principles luncheon, featuring Tax Foundation president Scott Hodge on PA’s tax competitiveness.