Instructions For Pa-20s/pa-65 Schedule B - Pennsylvania Department Of Revenue - 2012 Page 2
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2Line 7
Regulated investment companies
Some federally taxable dividends
(RIC) that invest in state and local
are Pennsylvania exempt-interest
Gross Pennsylvania-Taxable
bonds distribute exempt-interest
dividends. They are derived from
Dividend Income
dividends. The companies and their
federal obligations.
Add Lines 3 through 6, and enter the
shareholders are not taxed on them.
result on Line 7.
Not every RIC that invests in
Line 9
state and local bonds invests
Pennsylvania-Taxable Dividend
Line 8
exclusively in Pennsylvania state and
Income and Capital Gains
local bonds. Only federally exempt-
Pennsylvania-Exempt
Distributions Income
interest dividends that are derived
Dividend Income Included on
from Pennsylvania state and local
Subtract Line 8 from Line 7, and
Line 7
bonds are exempt for personal
enter the result on Line 9. Enter this
Enter income reported as federal
income tax purposes. Federally
amount on the PA-20S/PA-65
dividend income that has been taxed
exempt-interest dividends that are
Information Return, Page 1, Part III,
federally and is exempt for
not derived from Pennsylvania state
Line 4.
Pennsylvania purposes. This number
and local bonds are fully taxable for
can be obtained from entity level
personal income tax purposes.
books and records.
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Instructions for PA-20S/PA-65 Schedule B
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