Instructions For Rct-128 C - Report Of Change In Corporate Net Income Tax
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1Pennsylvania Department of Revenue
Instructions for RCT-128 C
Report of Change in Corporate Net Income Tax
RCT-128 C I (04-16)
Apportionment on RCT-128C, Page 3,
to an audit or examination of the federal
FORM INSTRUCTIONS
Schedule C-1. Taxpayers are also
return regardless of the year involved.
required to calculate the corporate net
In cases where the change was based
Tax Rate, Net Loss Deduction and
income tax apportionment in effect for
on a federal amended return, RCT-128C
Apportionment
the tax year being reported. See the
must be filed within six months of the
The RCT-128C, Report of Change in
instructions for apportionment in REV-
filing of the federal amended return. If
Corporate Net Income Tax, is only
1200, found at
RCT-128C is being filed to report
filed by entities subject to the cor-
changes due to an audit or examination
porate net income tax. This includes
CAUTION: RCT-128C, Schedule
of the federal return, the report must be
all entities who file as a corporation
C-1, all fields must be completed
filed within six months after the receipt
with the federal government.
with figures as originally filed, where
of the final change or correction. A $5 a
applicable, unless revised in accordance
Any taxpayer filing RCT-128C is re-
day penalty may be imposed for a late
with the Federal 1120-X or Federal
quired to enter all dates along with
filed return.
Audit Report.
applicable tax rates, apportionment and
NOTE: For tax years beginning
net operating loss deduction limitations
Interest
prior to Jan. 1, 2013, RCT-128C
in effect for the tax year being reported.
All taxes due the commonwealth shall
must be filed within 30 days of the
See the rate table for the applicable
bear interest from the date they become
filing of the federal amended return.
tax year in the REV-1200, CT-1 PA
due and payable until paid. (72 PS §
Corporation Tax Instructions, found at
806).
When filing an amended report, be
sure to use the instructions for the tax
Filing
year being amended. Year specific
Net Operating Loss Deduction
If the amount of taxable income, as
instructions
can
be
found
at
Any taxpayer claiming a net operating
returned by a corporation to the fed-
loss deduction is required to provide a
eral government, is finally changed or
completed Net Operating Loss Deduc-
corrected, such corporation must file
ATTACh A COPY OF ThE INCOmE TAX
tion Schedule, RCT-103, showing the
RCT-128C. This includes changes in
EXAmINATION ChANgES OR AmENDED
limitation on the deduction in effect for
federal taxable income resulting from
FEDERAL RETuRN.
the tax year being reported. RCT-103
the taxpayer filing an amended federal
can be found at
income tax return for years in which the
department did not issue an Official No-
Apportionment
tice of Settlement, as well as changes
Any taxpayer apportioning income is
initiated by the federal government due
required to complete the Sales Factor
RCT-128 C
1
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