Instructions For Form Rct-132b-I - Pennsylvania Shares And Loans Tax (Page 4 of 5) in pdf

RCT-132B-I – Line-by-Line Instruction

RCT-132B-I (1-14)

Page 4 of 5

The RCT-132B should be completed in the following order:

Step 1 - Complete the taxpayer information and any applicable questions at the top of Page 1.

Step 2 - Indicate the type of bank on Page 1- National Bank, State Bank, or Trust Company. This information is required.

Step 3 - Enter the Revenue ID number and other taxpayer information in the designated fields at the top of each page.

Step 4 - Complete Page 3, Schedule A, Receipts Factor.

Step 5 - Complete Page 2, Calculation of Shares Tax Apportionment (Lines 14 through 16).

Step 6 - Complete Page 2, Calculation of End of Year Taxable Shares (Lines 1 through 9).

Step 7 - Complete Page 2, Calculation of Shares Tax (Lines 10 through 13).

Step 8 - Complete Page 4, Schedule B, Loans Tax.

Step 9 - Complete Page 1, Tax Liability, Payment and Overpayment section.

Step 10 - Complete the corporate officer information section, sign and date at the bottom of Page 1.

Step 11 - Complete the preparer information section, sign and date at the bottom of Page 2, if applicable.

Step 12 - Mail the complete report and all supporting schedules to the PA Department of Revenue.

PENNSYLVANIA BANK AND TRUST COMPANIES SHARES TAX INSTRUCTIONS FOR APPORTIONMENT

Page 3 - Schedule A - Receipts Factor

Who may apportion?

A financial institution may apportion its taxable shares or net income if the institution is or could be subject to tax in another state based

on or measured by net worth, gross receipts, net income or another similar base of taxation.

Receipts Factor - The numerator is total receipts in Pennsylvania and the denominator is total receipts in all states. Receipts are on a sep-

arate company basis plus receipts from subsidiaries treated as disregarded entities for federal taxation.

An institution is engaged in doing business in this commonwealth and is subject to the tax imposed under Article VII if it generates gross

receipts apportioned to this commonwealth under Section 701.4 in excess of $100,000 (see instructions below for calculation of Receipts

Factor) and satisfies any of the nexus requirements.

For more information on the determination of the location of receipts see the Tax Reform Code, Article VII, Section 701.3. 72

P.S.§7701.3.

Line 1 - Receipts from Lease or Rental of Real Property

Line 2 - Receipts from Lease or Rental of Tangible Personal Property

Line 3 - Interest Fees and Penalties in Connection with Loans Secured by Real Propertyy

Line 4 - Interest Fees and Penalties in Connection with Loans Not Secured by Real Property

Line 5 - Net Gains from Sale of Loans

Line 6 - Interest Fees and Penalties Charged to Cardholders

Line 7 - Net Gains from Sale of Credit Card Receivables

Line 8 - Card Issuer’s Reimbursement Fees

Line 9 - Receipts from Merchant Discounts

Line 10 - ATM Fees

Line 11 - Loans Servicing Fees

Line 12 - Receipts from Services

Line 13 - Receipts from Investment/Trading, Assets and Activities

Line 14 - Receipts from Sale or Disposition of Property

Line 15 - All Other Receipts

Line 16 - Total Receipts (Sum of Line 1 through Line 15)

Line 17 - Receipts Factor (Line 16a divided by Line 16b; carry to 6 decimal places)

Page 2 Calculation of Shares Tax Apportionment

Line 14 - Total Receipts Inside PA (from Page 3, Schedule A, Line 16a)

Line 15 - Total Receipts Everywhere (from Page 3, Schedule A, Line 16b)

Line 16 - Receipts Factor (Line 14 divided by Line 15; carry to six decimal places)

Page 2 - Calculation of End of Year Taxable Shares

The book value used for this schedule is the value reflected on the Dec. 31 Quarterly Report of Condition filed with the appropriate

regulatory authority. If the total bank equity capital and total assets do not match the end of year balance sheet, provide a sched-

ule reconciling the difference.

For trust companies that do not file reports of condition, book value is the value at the end of the year under generally accepted

accounting principles.

Instructions For Form Rct-132b-I - Pennsylvania Shares And Loans Tax Page 4

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