Instructions For Rct-132a - Pennsylvania Title Insurance Company - Shares Tax Report

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Pennsylvania Department of Revenue
Instructions for RCT-132A
Pennsylvania Title Insurance Company - Shares Tax Report
RCT-132A I (04-16)
at Use
Schedule of combined shares for
GENERAL INFORMATION
ONLY the most current, non-year-
insurance companies that have
specific tax form and instructions
merged during the tax period
REMINDER
for filing the current tax year re-
Loans tax has been repealed for tax
Corporate officer’s signature on
port. If an amended report must
periods beginning after Dec. 31,
Page 1 and preparer’s signature
be filed, taxpayers must use the
2013. Do not complete Line 1b on
and PTIN on Page 2, if applicable
most current, non-year-specific
Page 1 for such tax periods. Please
Imposition, Base and Rate
tax form, completing all sec-
refer to the fourth bullet under
Shares tax is imposed at the rate of
tions of the form. REV-1175,
REMINDER regarding the filing of
1.25 percent on taxable shares of
Schedule AR (explanation for
prior year reports.
domestic title insurance companies
amending), must be included
All payments of $1,000 or more
located in Pennsylvania and having
when filing an amended report.
must be made electronically or by
capital stock.
One extension coupon, REV-426, will
certified or cashier’s check remitted
Loans tax has been repealed for tax
be used for all specialty taxes. The
in person or by express mail
periods beginning after Dec. 31, 2013.
courier.
coupon and the tax report will no
Do not complete Line 1b on Page 1.
longer be mailed. These forms are
Use only whole dollars when
available
as
fill-in
documents
Revenue ID, Federal Employer
preparing tax reports.
on the department’s website at
Identification Number (FEIN),
RCT-132A is used to report Penn-
REV-426
Parent Corporation FEIN, Name
sylvania title insurance company
can be filed electronically through e-
and Address
shares tax. This form is ONLY to be
TIDES at
The Revenue ID number, FEIN, name
used by Pennsylvania title insur-
However, electronic filing of the tax
and complete mailing address must be
ance companies to report shares
report is not available. The report
provided. If the taxpayer is a subsidiary
tax for Jan. 1, 2015 and forward.
should be completed using the com-
of a corporation, the parent corpora-
puter-based fill-in form, printed and
tion’s FEIN must be provided.
Also
NOTE: If filing for a prior
submitted by mail to the department.
provide the telephone number and
year,
please
use
the
email address of the taxpayer.
The form can be saved electronically
appropriate form and instructions in
for your records.
the year-specific folder found on
Tax Year
the
department’s
website
at
For shares tax enter the year (YY) of the
Annual Report Checklist: Make sure
spot tax.
you include the following to file your
annual report properly and completely:
Taxpayers may request a six month
Report Due Date
extension to file this report by filing
This report is due on March 15th follow-
Negative amounts must be written
REV-426.
ing the Jan. 1 shares reported. If March
using a minus sign preceding the
15 falls on a Saturday, Sunday or holi-
number. Do not use parentheses.
NOTE: The automatic PA
day, the report is due the next business
extension provided by Act 52
Complete RCT-132A, Pennsylvania
day. The penalty imposed for failure to
of 2013 to those with valid federal
Title Insurance Companies Shares
file timely reports is a minimum of
extensions DOES NOT apply to this
Tax Report
$500, regardless of the determined tax
tax.
liability, plus an additional 1 percent of
Copy of the annual federal tax
The penalty imposed for failure to
any determined tax liability over
return as filed with the federal
file timely reports is now a mini-
$25,000.
government
mum of $500, regardless of the
Address Change
Copy of quarterly balance sheets
determined tax liability, plus an
Enter “Y” in the block on Page 1 if the
(or pro forma) based on generally
additional 1 percent of any deter-
address of the corporation has changed
mined tax liability over $25,000.
accepted accounting principles
from prior tax periods. The current
RCT-132A is available as a fill-in
Copy of schedules for U.S. Obliga-
mailing address should be reflected on
form on the department’s website
tions claimed on the tax report
the report.
RCT-132A
1

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