Releases

IFO Releases

State and Local Taxes: A Comparison Across States

January 29, 2020 | News Stand & Other

This report uses the most recent data from the U.S. Census Bureau, the Internal Revenue Service (IRS), the U.S. Bureau of Economic Analysis and the Federation of Tax Administrators to facilitate a comparison of state and local tax systems across the fifty states. The report examines (1) the relative level of state and local taxes across states, (2) the distribution of state and local taxes across revenue sources (e.g., income, sales and property) and (3) state debt levels.

Tags: comparison, local, state, tax

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Testimony on Combined Reporting

January 29, 2020 | News Stand & Other

Director Matthew Knittel provided brief testimony to the Senate Democratic Policy Committee regarding the potential impact of combined reporting on corporate net income tax revenues.

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Mid-Year Update FY 2019-20

January 28, 2020 | Revenue Estimates

The Independent Fiscal Office (IFO) has released a mid-year update of its revenue estimate for fiscal year (FY) 2019-20. The revised estimate is $35.738 billion, which is $220 million higher than the IFO’s official estimate. As part of the mid-year update, the IFO also provides an advance look at revenue projections for the next fiscal year. For FY 2020-21, revenues are projected to be $37.117 billion, an increase of 3.9 percent over the current year. The IFO will update the estimate in its next round of revenue projections to be released in late May.

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OBMD, MTBI, R&D, and KIZ Tax Credit Reviews and PBB Overview for DCED, DOH and DHS

January 22, 2020 | Performance Budgeting

IFO presentation of Organ and Bone Marrow Donation, Mobile Telecommunications Broadband Investment, Research and Development and Keystone Innovation Zone Tax Credit Reviews and Performance-Based Budget highlights for the Department of Community and Economic Development, Department of Health and Department of Human Services.  

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PBB Overview Presentation for PEMA, DOS and DEP

January 22, 2020 | Performance Budgeting

IFO presentation of Performance-Based Budget overview and agency highlights for the Pennsylvania Emergency Management Agency, Department of State and Department of Environmental Protection.

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Performance-Based Budget Board Hearings Agenda- Year 2

January 21, 2020 | Performance Budgeting

The IFO has posted the agenda for upcoming performance-based budget and tax credit review hearings.

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Research and Development Tax Credit

January 21, 2020 | Tax Credit Review

Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the second year, the IFO reviewed the Research and Development, Keystone Innovation Zone, Mobile Telecommunications Broadband Investment and Organ and Bone Marrow Donation Tax Credits.

Click on the link to access the Research and Development Tax Credit Report.

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Keystone Innovation Zone Tax Credit

January 21, 2020 | Tax Credit Review

Act 48 of 2017 requires the Independent Fiscal Office (IFO) to review all state tax credits over a five-year period. For the second year, the IFO reviewed the Research and Development, Keystone Innovation Zone, Mobile Telecommunications Broadband Investment and Organ and Bone Marrow Donation Tax Credits.

Click on the link to access the Keystone Innovation Zone Tax Credit Report.

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Department of Community and Economic Development

January 21, 2020 | Performance Budgeting

Act 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the second year, the IFO reviewed the Department of Community and Economic Development, Department of Human Services (Part 1), Department of Health, Department of Environmental Protection, Department of State and Pennsylvania Emergency Management Agency.

Click on the link to access the performance-based budget review for the Department of Community and Economic Development.

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Department of Health

January 21, 2020 | Performance Budgeting

Act 48 of 2017 requires the Independent Fiscal Office (IFO) to develop performance-based budget plans for all agencies under the Governor’s jurisdiction once every five years. For the second year, the IFO reviewed the Department of Community and Economic Development, Department of Human Services (Part 1), Department of Health, Department of Environmental Protection, Department of State and Pennsylvania Emergency Management Agency.

Click on the link to access the performance-based budget review for the Department of Health.

Full Report