Instructions For Form Rct-132b-I - Pennsylvania Shares And Loans Tax Page 5
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5RCT-132B-I – Line-by-Line Instruction
RCT-132B-I (1-14)
Page 5 of 5
C.
A deduction for goodwill recorded as a result of the use of purchase accounting for an acquisition or combination occurring after June
30, 2001, may first be taken on the Jan. 1, 2008, bank shares tax report and subsequent reports. A taxpayer taking a deduction for
goodwill must provide a schedule detailing the goodwill listed on the balance sheet of the applicable call report. Include the name
of the entity, date of combination and amount of goodwill. Goodwill is a deduction from total bank equity capital and total assets.
D.
Submit a schedule identifying U.S. obligations by names and amounts claimed for the Dec. 31 quarter. Please refer to Corporation
Tax Bulletin 94 (Revised) for a list of those obligations which constitute U.S. obligations and non U.S. obligations.
Page 2- End of Year Taxable Shares
Line 1 - Total Bank Equity Capital from Balance Sheet (See A or B above.)
Line 2 - Total Assets from Balance Sheet (See A or B above.)
Line 3 - Goodwill (See C above.)
Line 4 - Net Bank Equity (Line 1 minus Line 3)
Line 5 - Net Assets (Line 2 minus Line 3)
Line 6 - U.S. Obligations (See D above.)
Line 7 - Divide Line 6 by Line 5; carry to 6 decimal places.
Line 8 - Deduction for U.S. Obligations (Multiply Line 4 by Line 7.)
Line 9 - Current End of Year Value of Shares (Subtract Line 8 from Line 4.)
Page 2- Calculation of Shares Tax
Line 10 - Current End of Year Value of Shares (from Line 9 above)
Line 11 - Shares Tax Apportionment (from Line 16); carry to six decimal places.
Line 12 - Total Amount of Shares Subject to Tax (Line 10 times Line 11)
Line 13 - Tax (Multiply Line 10 by 0.89 percent (0.0089). Carry the tax to RCT-132B, Page 1, Line 1a.
Page 4 – Schedule B - Loans Tax
Question 1 - Foreign Corporations Only. Did this corporation have a fiscal officer resident in Pennsylvania?
• If the answer to Question 1 is “No”, stop here; put zero on Line 10, Page 4 and zero on Page 1, Line 1b.
• If the answer to Question 1 is “Yes”, complete Questions 2 and 3.
Question 2 - Did this corporation have indebtedness outstanding to individual residents and/or partnerships resident in Pennsylvania?
• If the answer to Question 2 is “No”, answer Question 3.
• If the answer to Question 2 is “Yes”, complete Columns 4, 5 and 6 in the table under Schedule B. and complete Question 3.
Question 3 - Did this corporation have indebtedness outstanding held by a trustee, agent or guardian for a resident individual taxable in
its own right or by an executor or administrator of an estate wherein the decedent was a resident of Pennsylvania?
• If the answer to Question 2 and Question 3 is “No”, stop here; put zero on Line 10, Page 4 and zero on Page 1,
Line 1b.
• If the answer to Question 3 is “Yes”, complete Columns 4, 5 and 6 in the table under Schedule B.
If the answer to Question 2 or Question 3 is “Yes”, the taxpayer is required to complete Schedule B. Attach a separate schedule if addition-
al space is needed.
Column 4 - Enter the amount of interest paid on the indebtedness from Question 2 and/or 3 during the tax year reported.
Column 5 - Enter the rate of interest applicable to the indebtedness in Question 2 and/or 3.
Column 6 - Enter the nominal value of taxable indebtedness (divide Column 5 into Column 4). Then total the nominal val
ues of taxable indebtedness and enter the figure in the last space of Column 6 and on Line 7.
Line 7 - Enter the total taxable indebtedness from Schedule B, Column 6.
Line 8 - Tax: Multiply Line 7 by 4 mills (0.004).
Line 9 - Enter the Treasurer’s commission. This amount is computed as follows: five percent on first $1,000 of tax or fractional part
thereof: one percent on amount of tax over $1,000 but not exceeding $2,000: ½ of one percent on amount of tax over $2,000.
Line 10 - Tax less treasurer’s commission: Enter the difference of Line 8 minus Line 9. Carry the tax to RCT-132B, Page 1, Line 1b.
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