Form Rev-1640 Ct - General Instructions Election To Be Taxed As A Pennsylvania "S" Corporation Page 2

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REV-1640 CT (6-99) (I)
Please complete the REV-1640 in duplicate.
A copy of the REV-1640 will be returned upon approval.
A
newly
formed
corporation
may
elect
Subchapter S subsidiary shall be effective for
Pennsylvania S Corporation tax treatment for its
the qualified Subchapter S subsidiary. A qualified
first taxable year in Pennsylvania by filing a
Subchapter S subsidiary is not required to file a
Pennsylvania S Corporation election within 75
separate Pennsylvania S Corporation election.
days of incorporation or date of first activity.
A qualified Subchapter S subsidiary is not eligi-
A foreign corporation may elect Pennsylvania S
ble to elect Pennsylvania S Corporation tax
Corporation tax treatment for its first taxable
treatment independent of its parent Federal S
year in Pennsylvania by filing a Pennsylvania S
Corporation. A qualified Subchapter S subsidiary
Corporation election with the Department within
of a Federal S Corporation that does not have a
75 days of the start of its first taxable year in
valid Pennsylvania S Corporation election in
Pennsylvania. A foreign corporation’s first tax-
effect
shall
not
receive
Pennsylvania
S
able year in Pennsylvania commences on the
Corporation tax treatment.
date the corporation begins doing business in
Pennsylvania and becomes subject to the corpo-
rate net income tax.
ACKNOWLEDGMENT OF RECEIPT
A corporation which has filed a Federal S
OF ELECTION
Corporation election, but has not yet received
approval, may still file the Pennsylvania S
Within approximately ninety (90) days from the
Corporation election, indicating that federal
receipt of this election, the Department of
approval is pending, and shall submit a copy of
Revenue will issue a confirmation of approval
granting Pennsylvania S status. The confirmation
the federal approval to the Department within 30
will be mailed to the taxpayer. If the confirmation
days of receipt.
is not received within this time, the taxpayer
should call the Bureau of Corporation Taxes at
The Pennsylvania S Corporation election must
(717) 787-8353 to verify if the election was
be submitted to:
received. It is the exclusive responsibility of the
PA Department of Revenue
taxpayer to provide timely proof of mailing, a cer-
Bureau of Corporation Taxes
tified mail receipt.
PA “S” UNIT
Dept. 280705
Harrisburg, PA 17128-0705
Pennsylvania
S
Corporation
Tax
Report
Instructions provide further explanations for the
taxation of Pennsylvania S Corporations and their
shareholders.
QUALIFIED SUBCHAPTER S
SUBSIDIARIES
When filing the first tax report that S status is
A Pennsylvania S Corporation election filed by
effective, include a copy of the Pennsylvania and
the parent Federal S Corporation of a qualified
federal notice of acceptance letters.
3

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