« Return to search form

Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

State or TerritoryPennsylvania
Effected JurisdictionPennsylvania
Jurisdiction type: State or Territory
Fiscal year ending In2018
Program nameTax Credit for New Jobs
Program purpose: Job Creation/Retention
Statutory authority: Article XVIII‚ÄêB of the Tax Reform Code of 1971
Abating jurisdiction(s): State of Pennsylvania
Applicable taxesCorporate Net Income Tax; Personal Income Tax; Bank and Trust Company Shares Tax; Mutual Thrift Institutions Tax; Gross Receipts Tax; Gross Premiums Tax; Title Insurance Company Shares Tax
Method of abatement: Tax Credit
Provisions for recapture: Although businesses do not receive the Tax Credit until after the jobs are created, if businesses do not maintain operations for five years all Tax Credits must be refunded. If a business does not create the required promised number of jobs, penalties may be assessed.
Gross revenue loss: $10,100,000
Reimbursement / offset: $0
Net revenue loss: $10,100,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://www.budget.pa.gov/Publications%20and%20Reports/AnnualFinancialRe...