Instructions For Rct-112 - Gross Receipts Tax (Grt) Report - Electric, Hydro-Electric And Water Power Companies - Pennsylvania Department Of Revenue


Pennsylvania Department of Revenue
Instructions for RCT-112
Gross Receipts Tax (GRT) Report - Electric, Hydro-Electric and Water Power Companies
RCT-112 I (04-16)
taxes. The coupons and the tax
for bad debts. The taxpayer must
report will no longer be mailed. These
provide detail of all adjustments,
forms are available as fill-in docu-
including tax type, amount, location
ments on the department’s website
and tax period.
All payments of $1,000 or more
The REV-
must be made electronically or by
Annual Report Checklist: Make sure
423 and REV-426 coupons can be
certified or cashier’s check remitted
you include the following to file your
filed electronically through e-TIDES
in person or by express mail courier.
annual report properly and completely:
However, electronic filing of the tax
Use ONLY whole dollars when
Negative amounts must be written
report is not available. The report
preparing tax reports.
using a minus sign preceding the
should be completed using the com-
PA sales for resale exemptions must
number. Do not use parentheses.
puter-based fill-in form, printed and
be reported on Page 3 of the report.
submitted by mail to the department.
Complete RCT-112, Gross Receipts
If additional pages are needed,
The form can be saved electronically
Tax Report – Electric, Hydro-Electric
please make a clean copy of Page 3
for your records.
and Water Power Companies
and complete.
For tax years beginning on or after
Copy of the FERC annual report
Taxpayers may request a 60-day
Jan. 1, 2011, taxpayers subject to
and/or PUC annual report
extension to file this report by filing
gross receipts tax must file the
Pennsylvania gross receipts tax
Copy of the federal income tax
report using the same method of
return as filed, or a pro-forma return
NOTE: The automatic PA
accounting used to file reports with
if a return is not required to be filed
extension provided by Act 52
the Federal Energy Regulatory
with the IRS
of 2013 to those with valid federal
Commission (FERC) or the Federal
extensions DOES NOT apply to this
Communications Commission (FCC).
Monthly schedule of receipts if the
If the taxpayer has no regulatory
taxpayer is a fiscal filer for federal
reporting requirement to FERC or
purposes (this schedule must cover
The penalty imposed for failure to
FCC, the taxpayer must file the
file timely reports is now a minimum
the two fiscal periods which include
Pennsylvania gross receipts tax
of $500, regardless of the deter-
the 12 calendar months reflected on
report using the same method of
mined tax liability, plus an additional
this report)
accounting used to file reports with
1 percent of any determined tax
the Pennsylvania Public Utility Com-
Detail of reconciliation if total
liability over $25,000.
mission (PUC). If the taxpayer has
receipts do not equal the amount
no regulatory reporting requirement
RCT-112 is available as a fill-in form
reported on the federal return
to FERC, FCC or PUC, the taxpayer
on the department’s website at
Detail of reconciliation if PA receipts
must file the Pennsylvania gross
receipts tax report using the same
do not equal the amount of the sales
the most current, non-year-specific
method of accounting used to file the
factor apportionment reported on
tax form and instructions for filing
federal income tax return with the
the PA Corporate Net Income Tax
ALL years. If an amended report
Internal Revenue Service. If this re-
Report, RCT-101/106 or PA Sales
must be filed, taxpayers must
quires a taxpayer to change the
tax report or Schedule H of the
use the most current, non-year-
accounting method for reporting
specific tax form, completing all
Pennsylvania gross receipts, see Tax
sections of the form. REV-1175,
Bulletin 2011-02 for the applicable
Detail of adjustment for PA bad
Schedule AR (explanation for
rules in reporting for the transition
amending), must be included
Detail of PA non-taxable receipts
when filing an amended report.
For tax years beginning on or after
Corporate officer’s signature on
One estimated payment coupon,
Jan. 1, 2011, taxpayers using the
REV-423, and one extension coupon,
Page 1 and preparer’s signature and
accrual method of accounting may
REV-426, will be used for all specialty
take an adjustment to PA receipts
PTIN on Page 2 (if applicable)


00 votes

Related Articles

Related forms

Related Categories

Parent category: Financial
Page of 5