Instructions For Rct-132a - Pennsylvania Title Insurance Company - Shares Tax Report Page 4
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4PENNSYLVANIA TITLE INSURANCE
quarter in existence and dividing the
Enter receipts Everywhere.
16b.
COMPANY INSTRUCTIONS FOR
sum by the number of reports or quar-
Line 17 - Total Receipts
APPORTIONMENT
ters.
Total receipts Inside PA; add Line
17a.
15a plus Line 16a.
Line 1 – Current Year Value of Shares
PAGE 2
(from Page 3, Schedule A, Line 31)
17b.
Total receipts Everywhere; add Line
RECEIPTS FACTOR
15b plus Line 16b.
Line 2 – First Prior Year Value of Shares
Who may apportion?
Line 3 – Second Prior Year Value of Shares
PAGE 2
A title insurance company may appor-
Line 4 – Third Prior Year Value of Shares
tion its taxable shares or net income if
CALCULATION OF ShARES TAx
the insurance company is or could be
APPORTIONMENT
Line 5 – Fourth Prior Year Value of Shares
subject to tax in another state based on
Line 12 – Total receipts Inside PA;
Line 6 – Fifth Prior Year Value of Shares
or measured by net worth, gross re-
carry the figure from Line 17a
ceipts, net income or another similar
Line 7 – Sum of Value of Shares (total
base of taxation.
Line 13 – Total receipts Everywhere;
of Line 1 through Line 6)
carry the figure from Line 17b
Determine the location of receipts
Line 8 – Taxable Shares (Line 7 divided
as follows:
Line 14 – Receipts Factor (Line 12 di-
by 6 or the number of years in exis-
Receipts from the issuance of title insur-
vided by Line 13); carry to six decimal
tence, if less than 6)
ance shall be located in the state in
places
which the real property insured is lo-
Line 9 – Shares Tax Apportionment
PAGE 2
cated.
(Line 14 - Receipts Factor); carry to six
decimal places.
Receipts Factor – The numerator is
CALCULATION OF ShARES TAx
total receipts in Pennsylvania and the
Line 10 – Total Amount of Shares Sub-
Taxable shares equal the total shares for
denominator is the total receipts in all
ject to Tax (Line 8 times Line 9)
the current year plus each of the pre-
states.
Line 11 – Tax (Multiply Line 10 by 1.25
ceding five years, divided by 6. An en-
Line 15 - Receipts from Issuance of
tity in existence fewer than six years
percent (0.0125). Carry the tax to RCT-
Title Insurance
must total the shares for each of the
132A, Page 1, Line 1a.
Enter receipts Inside PA.
15a.
years in existence and divide by that
If the taxpayer is the survivor of a
number of years. A partial year of exis-
Enter receipts Everywhere.
15b.
merger of one or more insurance com-
tence is considered a full year. The value
panies, the History of Shares would in-
Line 16 – Other Receipts
of shares for a partial year is deter-
(detailed schedule MUST be attached)
clude the sum of the prior year value of
mined by adding the book values for
Enter receipts Inside PA.
16a.
each report of condition filed or calendar
shares of each insurance company.
RCT-132A
4
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