Penn Tax Memo Tuition Tax Term Paper

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In addition, the estimation of seventy-seven thousand individuals that would be able to receive an additional refund from the tax credit suggests that it could actually cost the state a substantial amount of money to operate this program. These students would not only pay no taxes, but would actually receive money from the state -- a minimally employed student that owed no income tax to begin with could actually receive a refund of eight hundred dollars (forty percent of two-thousand) or more. Clearly, there would be a major impact o the overall state budget from the cost of this program. Though a billion dollars doesn't go as far as it used to, it is still a substantial portion of the state's total sixty-three billion dollar budget (POB, 2012).

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Though the money saved or sent out to individual taxpayers through this tax credit would most likely be used to make purchases in the state of Pennsylvania, generating seem revenue to the state in from of sales taxes and generally boosting the economy of the state, these effects would not immediately impact the practical realities of the budget shortfall the tax credit would create. Careful consideration of these factors should be undertaken before any decision regarding the tax credit is made; while benefiting Pennsylvania's college university students today, it could significantly impair the state's long-term viability......

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"Penn Tax Memo Tuition Tax" (2012, March 03) Retrieved June 6, 2026, from
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