Q&A with the Pennsylvania Department of Revenue

In computing the receipts factor, do receipts only include receipts of the taxable entity?

Sep 30, 2013
This would be the receipts of the taxable entity. To support the receipts reported on the Bank Shares Tax Report entities subject to the Bank Shares Tax are required to provide a copy of the federal income tax return as filed with the IRS, or would have been filed with the IRS, on a separate company basis. This return must include the activity of any disregarded entities. 

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These documents provide a summary of the answers provided by the Department of Revenue to the PICPA Committee on State Taxation at its annual question and answer session. These documents are classified as revenue information issued for informational purposes only for the convenience of PICPA members. Pursuant to 61 Pa. Code Section 3.4, these documents should not be relied upon for any purpose or used in tax appeals. Taxpayers requiring a binding opinion on their specific fact situation may request a written letter ruling under 61 Pa. Code Section 3.3.