Q&A with the Pennsylvania Department of Revenue

What are the PA PIT tax consequences of a conversion of a PA S Corporation to a limited partnership, and would the transaction be subject to tax?

Jan 22, 2018
Historically the department treated this transaction as the termination of one entity and the creation of a new entity. This was the general rule prior to 2015 since the Commonwealth did not have a conversion statute. There is no definitive policy at this time and the department is considering the effect of the 2015 statute. 

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