Q&A with the Pennsylvania Department of Revenue

Is a PA trust company subject to the Bank Shares Tax also subject to the Corporate Net Income Tax and the Capital Stock and Franchise Tax?

Nov 04, 2015
If the activity of the trust company is sufficient to create nexus then it will be subject to the CSFT and CNI Tax in the same manner as any trust.

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Annual Meetings

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.