By: Neal Meldrum, Senior Industry Solutions Manager, Microsoft. The factory of the future is a complex ecosystem of self-regulating machines and sites, able to customize output and optimally allocate resources. Read now
Personal income tax. Pennsylvania has a flat tax rate of 3.07% on individual income, with no personal exemptions.
Franchise taxes are generally either a flat fee or an amount based on a businessâs net worth. Pennsylvania has a corporate net income tax, which applies to traditional (C-type) corporations, and capital stock and foreign franchise taxes, which apply to various types of business entities. In addition, if income from your business passes through to you personally, that income will be subject to taxation on your personal Pennsylvania tax return. Pennsylvaniaâs corporate net income tax has a flat rate of 9.99% (this makes it one of the highest corporate tax rates in the country). Returns and payments are due on April 15th for corporations with fiscal years that match the calendar year, and 30 days after federal returns are due for corporations with other fiscal years. For purposes of comparison, note that Pennsylvania generally taxes personal income at a flat rate of 3.07%.