Instructions For Rct-101 D

ADVERTISEMENT

Instructions for RCT-101 D
RCT-101 D I (05-12)
A corporation not formed under the laws of the
files RCT-101 for Dec. 31, 2008, in order to utilize a
Commonwealth of Pennsylvania whose Pennsylvania activity
net operating loss from this period in the calculation
during a tax year is considered de minimis as outlined in
of the Dec. 31, 2009, corporate net income tax. The
Tax Bulletin 2004-01 is not required to file a complete PA
RCT-101 for Dec. 31, 2008, reports $200 of foreign
Corporate Tax Report, RCT-101, for that period. Instead,
franchise tax, which is paid with the report. In this
such corporation may file RCT-101D, affirming PA activity
case, the taxpayer would be assessed interest on
during the period is de minimis. A corporation preparing to
$200 from April 15, 2009, to April 15, 2010. Since
file RCT-101D is reminded of the following:
the taxpayer did file RCT-101D for 2008 prior to the
due date of the RCT-101 for 2008, a late-filing penalty
1. RCT-101D is not a tax report, and the statute of
will not be imposed.
limitations regarding the assessment of tax does not
apply.
Example 2
Same facts as Example 1, except Company A did not
2. If a taxpayer files RCT-101D and subsequently wants
file RCT-101D until Dec. 15, 2009. In this case, since
to use a tax benefit for that period, the taxpayer must
RCT-101D was not filed prior to the due date of the
file a complete RCT-101 for each year, beginning with
RCT-101 for 2008, Company A would be assessed
the year in which the tax benefit is generated,
both interest and a late-filing penalty.
through the year in which the benefit is to be used.
In cases where the taxpayer files RCT-101D and later files
Tax Bulletin 2004-1 is available on the PA Department of
RCT-101, the taxpayer will be liable for all taxes due for
Revenue website at
these periods. Applicable interest will also be imposed
from the original due date of the report to the date the
Completed RCT-101D forms should be mailed to:
taxes are paid. The imposition of late–filing penalties will
BUREAU OF CORPORATION TAXES
be based on the filing date of the RCT-101D.
PO BOX 280708
Example 1
HARRISBURG PA 17128-0708
Company A files RCT-101D for Dec. 31, 2008, on
March 14, 2009. On April 15, 2010, the taxpayer

ADVERTISEMENT

00 votes

Related Articles

Related forms

Related Categories

Parent category: Financial
Go