Q&A with Pennsylvania Department of Revenue

Specialty Taxes

Concerns and suggestions regarding the Pennsylvania R&D credit online application
This was the first year for the online R&D credit application. Does the Department of Revenue anticipate making any changes to the process in subsequent years?
Why is filed inheritance tax return response from the Department taking so long (4 - 6 months) now? In the past written response was received in about 30 days.
Can insolvent insurance companies participate in amnesty, similar to bankrupt entities?
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?
An institution is formed in PA in Dec. 2014 and only has $90,000 in PA apportioned gross receipts as of Dec. 31, 2014. Is the institution subject to the bank shares tax?
Would the economic nexus be sufficient to subject a corporation to the CNIT and/or CSFT?
If an institution does not meet the “apportioned gross receipts in excess of $100,000," would it be subject to the CNIT and/or CS/FFT?
Scenario: shares tax years prior to H.B. No. 465.
In computing the receipts factor, do receipts only include receipts of the taxable entity?
With the change of the Bank Shares Tax – has anything been discussed about credits purchased based upon the old calculation of tax?
Scenario: Family Owned Business (FOB) inheritance exemption
Will Pennsylvania accept tax returns prepared using the new IRS rules on tangible property?
Scenario: A nonresident decedent owned real estate in PA through a single-member LLC that is organized in PA. Per the terms of his will, ownership of the LLC transfers to his children.
Scenario: A savings bank that had been filing MTIT reports merged into an existing national bank that had been filing shares tax reports.
Are there any plans to propose an amendment to 61 Pa. Code § 91.170 (specifically to Example 1) and RTT Bulletin 2008-01 (specifically Result #4b)?

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Q&A with Pennsylvania Department of Revenue

Specialty Taxes

Concerns and suggestions regarding the Pennsylvania R&D credit online application

This was the first year for the online R&D credit application. Does the Department of Revenue anticipate making any changes to the process in subsequent years?

Why is filed inheritance tax return response from the Department taking so long (4 - 6 months) now? In the past written response was received in about 30 days.

Can insolvent insurance companies participate in amnesty, similar to bankrupt entities?

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?

An institution is formed in PA in Dec. 2014 and only has $90,000 in PA apportioned gross receipts as of Dec. 31, 2014. Is the institution subject to the bank shares tax?

Would the economic nexus be sufficient to subject a corporation to the CNIT and/or CSFT?

If an institution does not meet the “apportioned gross receipts in excess of $100,000," would it be subject to the CNIT and/or CS/FFT?

Scenario: shares tax years prior to H.B. No. 465.

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

With the change of the Bank Shares Tax – has anything been discussed about credits purchased based upon the old calculation of tax?

Scenario: Family Owned Business (FOB) inheritance exemption

Will Pennsylvania accept tax returns prepared using the new IRS rules on tangible property?

Scenario: A nonresident decedent owned real estate in PA through a single-member LLC that is organized in PA. Per the terms of his will, ownership of the LLC transfers to his children.

Scenario: A savings bank that had been filing MTIT reports merged into an existing national bank that had been filing shares tax reports.

Are there any plans to propose an amendment to 61 Pa. Code § 91.170 (specifically to Example 1) and RTT Bulletin 2008-01 (specifically Result #4b)?