The 45-billion-dollar 2022-23 state budget passed by the Pennsylvania General Assembly this past week will provide an historic cut to the Corporate Net Income (CNI) tax. The CNI will be reduced to 8.99 percent next year and provide for an additional reduction in the CNI tax rate each year after until the rate reaches 4.99 percent by 2031. Supporters say the cut will be a huge incentive for companies to locate their businesses in the commonwealth, in addition to possibly leading to higher wages and increased home values.