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

RCT-143 – Line-by-Line Instruction

RCT-143-I (10-12)

Page 6 of 6

Line 13 - Average Total Deposits

Enter the figure from Page 4, Schedule D, Line 17b.

Line 14 - Deposits Factor

Enter the product of Line 12 divided by Line 13. Carry to six decimal places.

Line 15 - Total of Proportions

Enter the total of Lines 8, 11 and 14. Carry to six decimal places.

Line 16 - Apportionment Factor

The apportionment factor is defined by the number of factors present. A factor is ignored if both the numerator and denominator are

zero. Divide Line 15 by 3 if all three proportions apply, divide by 2 if only two proportions apply or divide by 1 if only one proportion

applies. Carry to six decimal places. Carry the figure to Page 2, Line 9.

Page 2 - Calculation of Additions and Apportioned Income

Line 5 - Interest Expense Allocable to Tax-Exempt Income

Enter the figure from Page 3, Schedule B, Line 5.

Line 6 - Employment Incentive Payment Credit

Enter the amount of credit earned.

Line 7 - Total Additions

Enter the total of Lines 5 and 6.

Line 8 - Income to be Apportioned to PA

Enter the total of Line 1 minus Line 4 plus Line 7.

Line 9 - Apportionment

Enter the apportionment factor from Page 3, Schedule C, Line 16. Carry to six decimal places.

Line 10 - Income Apportioned to PA

Multiply Line 8 by Line 9. If negative, this will be your net loss carry forward for the current tax period. Enter the applicable informa-

tion on Page 3, Schedule A and enter zeros on Lines 11, 12 and 13. If positive, continue completing Lines 11, 12 and 13.

Line 11 - Net Loss Deduction

Enter the figure from Page 3, Schedule A, Total Column D.

Line 12 - Taxable Income

Enter the difference of Line 10 minus Line 11. This amount cannot be a negative number.

Line 13 - Tax

Multiply Line 12 by 0.115. Carry to RCT-143 Page 1, Line 1.

Page 3 - Schedule A - Net Loss Carry Forward

The net loss generated in a given period may only be carried forward three consecutive tax periods. Enter the net losses from the preced-

ing three tax periods, starting with the earliest period. If a negative figure was calculated on Page 2, Line 10, also enter the current period

net loss.

Column A - Enter the tax period beginning.

Column B - Enter the tax period ending.

Column C - Enter the net loss carry forward.

Column D - If a positive figure is calculated on Page 2, Line 10 for the current tax period, enter the amount to be used as a net loss

deduction to offset income. The total amount to deduct should not exceed the amount reported on Page 2, Line 10.

Column E - Enter the difference of Column C minus Column D. The final three tax periods is the net loss carry forward for the next tax

period.

General Information For Rct-143 Page 6