THE TIMES-TRIBUNE: Pennsylvania suffers from high unemployment and a persistent state budget deficit, yet the Legislature maintains an indefensible tax loophole that hinders job creation while limiting state revenue.
The policy known as the Delaware loophole allows large corporations to evade state taxes by reporting their income and profits through affiliates in other states, mostly Delaware…
This practice resulted last year in 71 percent of companies doing business in Pennsylvania paying zero corporate net income tax….
In recent years 24 other states have eliminated their versions of the Delaware loophole. It’s time for Pennsylvania to join them in order to promote tax fairness and job creation, and to fairly spread the burden of covering the deficit. (more)
