Film Tax Credit
The State Legislature is advancing legislation to expand state funding for Pennsylvania’s film tax credit. SB321 introduced by Sen. Camera Bartolotta (Washington-R) will increase credits from $70 million to $125 million and was approved in the Senate Finance Committee last week.
Pennsylvania’s tax structure contains some of the highest rates and most restrictive provisions in the country and our corporate tax laws are uncompetitive when compared to the rest of the nation. Across-the-board reforms and reductions in business taxes are necessary to stimulate economic development and create jobs. Due to this, the Delaware County Chamber of Commerce applauds the efforts of the Pennsylvania General Assembly and Governor Tom Wolf’s efforts to reduce the Corporate Net Income Tax (CNIT). The current rate of 9.99% is the country's second-highest rate and discourages job creators to locate to the Commonwealth. Please utilize this link to contact your local legislator to continue their work in reducing the CNIT as the General Assembly begins negotiations on the annual budget.