Corporation Taxes

Corporation Taxes

Domestic (incorporated in Pennsylvania) and foreign corporations(incorporated outside Pennsylvania) doing business in Pennsylvania are subject to corporate net income tax and corporate loans tax. In addition, Pennsylvania corporations must pay capital stock tax, and foreign corporations must remit foreign franchise tax.

Special classes of domestic and foreign corporations are subject to various selective business taxes including a gross receipts tax levied on utility and transportation companies; a gross premiums tax imposed on domestic and foreign insurance companies; a public utility realty tax levied on regulated utilities; and the bank and trust company shares tax, title insurance company shares tax or mutual thrift institutions tax levied on financial institutions.