Form Rct-102 - Capital Stock Tax Manufacturing Exemption Schedule
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1020014105
RCT-102 (05-14)(FI)
CAPITAL STOCK TAX MANUFACTURING
File with RCT-101
MMDDYYYY
EXEMPTION SCHEDULE
TAX YEAR
BEGINNING
START
TAX YEAR
CORPORATION NAME
REVENUE ID
ENDING
PREPARATION INSTRUCTIONS FOR EXEMPTION SCHEDULE
This schedule is to be completed by electing corporations actually engaged in producing a manufactured article; any processing operation
enumerated in Section 601(a) of the Tax Reform Code of 1971; or research and development as defined in Section 601(a) of the Tax Reform
Code of 1971. Foreign corporations engaged in producing manufactured articles or foreign companies organized for and engaged in certain
processing operations or research and development should use this form if all business activities are conducted in Pennsylvania. If the activities
of a foreign corporation are multi-state, Schedule RCT-105 or RCT-102 may be used.
Compliance with these instructions and submission of all required data by the person responsible for the preparation of this schedule will facilitate
processing. See Page 4 regarding a description of the corporation’s activities. This description must be completed each year.
Whenever the term “manufacturing” is used in this schedule, it will include processing and research and development. The manufacturing exemption
is limited to assets actually employed in manufacturing and does not apply to corporate net income tax. An explanation should be submitted of
the basis employed if actual values are ascribed to assets.
Cash, securities, accounts receivable, etc., not required for conducting manufacturing activities are not exempt.
Any asset, tangible or intangible, used in producing a manufactured article and in a nonmanufacturing activity must be reported on Page 3, Column E.
Attach additional schedule(s) reflecting the details if any assets and liabilities were combined in a net figure on the balance sheet.
COLUMN A-1 —
Net book value of company assets at the beginning of the period.
COLUMN A-2 —
Net book value of company assets at the end of the period.
COLUMN A-3 —
Average net book value of company assets.
COLUMN B
—
This column represents average value of the exemption claimed for tangible and intangible assets as reflected on Insert
Sheet, RCT-106. Assets listed in Column B must not be listed in Columns C, D, E or H on Page 3.
COLUMN C
—
This column must include the average value of all tangible assets located in Pennsylvania, which are not used in
manufacturing activities. It must also include the average value of all intangible assets except those necessary as working
capital for a manufacturing activity and intangible assets claimed as an exemption in Column B.
COLUMN D
—
This column must include the average value of tangible assets actually and exclusively employed in manufacturing. It must
also include the average value of intangible assets actually and exclusively held as working capital for a manufacturing
activity, unless already claimed in Column B.
COLUMN E
—
This column must include the average value of all assets, tangible or intangible, which are used in a manufacturing activity
and in a nonmanufacturing activity not listed in Columns B, C or D.
COLUMNS F
—
In order for an exemption to be allowable in Column G for that portion of Column E used in a manufacturing
and G
activity, the taxpayer must submit a detailed schedule showing the method and calculation employed and an explanation
substantiating the method used. The balance of Column E used in nonmanufacturing activities must appear in Column F.
COLUMN H
—
This column should reflect the total average taxable assets of Columns C and F.
THIS SCHEDULE MUST BE COMPLETED IN DETAIL AND ATTACHED TO THE LAST PAGE OF THE RCT-101.
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