Instructions For Pa-20s/pa-65 Schedule B - Dividend And Capital Gains Distributions Income - 2013 Page 2
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1
2can be obtained from entity level
books and records.
Regulated investment companies
(RIC) that invest in state and local
bonds distribute exempt-interest
dividends. The companies and their
shareholders are not taxed on them.
Not every RIC that invests in
state and local bonds invests
exclusively in Pennsylvania state and
local bonds. Only federally exempt-
interest dividends that are derived
from Pennsylvania state and local
bonds are exempt for personal
income tax purposes. Federally
exempt-interest dividends that are
not derived from Pennsylvania state
and local bonds are fully taxable for
personal income tax purposes.
Some federally taxable dividends
are Pennsylvania exempt-interest
dividends. They are derived from
federal obligations.
Line 9
Pennsylvania-Taxable Dividend
Income and Capital Gains
Distributions Income
Subtract Line 8 from Line 7, and
enter the result on Line 9. Enter this
amount on the PA-20S/PA-65
Information Return, Page 1, Part III,
Line 4.
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