General Information For Rct-143 (Page 4 of 6) in pdf

RCT-143 – Line-by-Line Instruction

RCT-143-I (10-12)

Page 4 of 6

RCT-143 should be completed in the following order:

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

Step 2 - Indicate the type bank on Page 1 - State Savings & Loan or Savings Bank or Federal Savings & Loan or Savings Bank. This must

match the company’s registration with PA Department of Banking. 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 2, Lines 1 through 4 (Income and Deductions).

Step 5 - Complete Page 3, Schedule B (Interest Expense).

Step 6 - Complete Page 4, Schedule D (Apportionment).

Step 7 - Complete Page 3, Schedule C (Apportionment Summary).

Step 8 - Complete Page 2, Lines 5 through 10 (Additions and Apportioned Income).

Step 9 - Complete Page 3, Schedule A (Net Loss Carry Forward).

Step 10 - Complete Page 2, Lines 11 through 13. (Calculate Tax).

Step 11 - Complete Page 1, Tax Liability, Payment and Overpayment sections.

Step 12 - Complete the corporate officer information section, sign and date at the bottom of Page 1.

Step 13 - Complete the preparer information section, sign and date at the bottom of Page 2, if applicable.

Step 14 - Mail the completed report and any supporting schedules to the PA Department of Revenue.

Page 2 - Calculation of Net Income and Deductions

Line 1 - Income from Financial Statements

Enter the net income or loss reported on the Income Statement or Report of Condition.

Line 2 - Interest from U.S. Obligations

Enter the interest from U.S. obligations. Provide a schedule identifying the name, Committee on Uniform Securities Identification

Procedures (CUSIP) number and interest amount for each U.S. obligation.

For more information on the CUSIP number refer to the SEC website at or the CUSIP Global Services website at

Line 3 - Interest from PA Obligations

Enter the interest from PA obligations. Provide a schedule identifying the name, CUSIP number and interest amount for each PA

obligation.

Line 4 - Total Deductions

Enter the sum of Lines 2 and 3. This is the tax-exempt income. Carry the figure to Page 3, Schedule B, Line 1.

Page 3 - Schedule B - Interest Expense Allocable to Tax-Exempt Income

Line 1 - Total Tax-Exempt Income

Enter the total from Page 2, Line 4.

Line 2 - Total Interest Income for Year

Enter the total interest income. A detailed schedule must be provided.

Line 3

Enter the product of Line 1 divided by Line 2. Carry to six decimal places.

Line 4 - Total Interest Expense

Enter the total interest expense. A detailed schedule must be provided.

Line 5 - Interest Expense Allocable to Tax-Exempt Income

Multiply Line 3 by Line 4. Carry the figure to Page 2, Line 5.

Page 4 - Schedule D - Apportionment

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.

How is the apportionment fraction calculated?

The apportionment percentage is an average of payroll, receipts and deposits.

Payroll Factor

Line 1 - The numerator (a) is total wages paid in Pennsylvania and the denominator (b) is the total wages paid in all states. Wages are

paid in a state if paid to an employee having regular presence therein.

General Information For Rct-143 Page 4

Related Articles

Related forms

Related Categories