Legislative Accomplishments
2019-2020
Act 90 of 2019 amends the Tax Reform Code, in personal income tax, to establish a 10-year period for the Department of Revenue (DOR) to collect all assessed state taxes. It provides an exception for the inheritance tax and an exclusion from the sales and use tax for canned computer software directly used by a financial institution conducting the business of banking.
Furthermore, it authorizes the DOR to enter into agreements with financial institutions and for financial institutions to share with the DOR certain bank account information for purposes of delinquent tax collections through a Financial Institution Data Match (FIDM). The new section relating to the time period for collection of assessed taxes will take effect on Jan. 1, 2021.
- Signed into law on Nov. 27, 2019
Act 13 of 2019 stipulates that if the executor of an estate and the trustee of a trust make an election under Section 645 of the Internal Revenue Code to treat the income of the trust as part of the estate, the fiduciary may make and file a joint tax return for the estate and trust. If a joint return is filed, the tax liabilities of the estate and trust shall be joint and several. This provision applies to taxable years beginning after Dec. 31, 2019.
- Signed into law on June 28, 2019