Instructions For Pa-65 Corp - Directory Of Corporate Partners - 2012 Page 4
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8fiscal year. A partnership may use a
the correct amount of corporate net
Important.
When submitting
52/53 week-year if it keeps its books
income tax on behalf of nonfiling
the PA-65 Corp with federal
on that basis.
corporate partners may subject the
Form 1065, enter zero on Line 4
partnership to interest and penalties.
because the correct amount of
Short-Year Return
When the partnership’s federal
corporate net income tax withheld
Form 1065 is filed, the partnership is
and remitted on April 15 was correct.
A short year is an accounting period
required to submit the PA-65 Corp,
All other information on the PA-65
shorter than one year and not a 52-
Directory of Corporate Partners with
Corp should appear as was filed on
53 week taxable year.
federal Form 1065
attached.
See
April 15.
A short-year return is required for
Underpayment,
Correct Payment
and
the following reasons -
Overpayment.
Overpayment of Corporate
● Changes in the annual accounting
Net Income Tax
period. For example, the entity
Underpayment of Corporate
If upon filing federal Form 1065, the
changes from a fiscal year filer to a
Net Income Tax
partnership determines that it
calendar year filer; or
If upon filing federal Form 1065, the
withheld excess corporate net income
● An entity is in existence during only
partnership determines the proper
tax for a corporate partner, the
part of the tax year. For example, if
amount of corporate net income tax
partnership must file an amended
the year is the initial year or the
was not withheld for a corporate
PA-65 Corp, Directory of Corporate
entity sells or exchanges 50 percent
partner, the partnership must file an
Partners. Refunds are not issued to
or more of ownership interest.
amended PA-65 Corp, Directory of
the partnership. See
Refund of
When there has been a change in
Corporate Partners, and remit the
Overpayment of Corporate Net
an accounting period that requires
additional tax due within 30 days of
Income Tax Withholding.
filing of a short-year return, the tax
filing federal Form 1065 with the IRS.
With the amended PA-65 Corp,
is calculated on an annualized basis.
See
How To Amend the PA-65 Corp.
the partnership must submit a
With the amended PA-65 Corp
complete copy of federal Form 1065,
and CNI check, the partnership must
No Extension of
including federal Form 1065 Schedule
submit a complete copy of federal
K-1 for each nonfiling corporate
Time To File
Form 1065, including federal Form
partner, PA-20S/PA-65 Schedule H–
1065 Schedule K-1 for each nonfiling
There is no extension of time to file
Corp and PA-20S/PA-65 Schedule CP
corporate partner, PA-20S/PA-65
the PA-65 Corp, Directory of
within 30 days of filing federal Form
Schedule H–Corp and PA-20S/PA-65
Corporate Partners. See
How a 1065
1065 with the IRS. Fill in the
Schedule CP. Fill in the amended PA-
Federal Extension Affects the PA-65
amended PA-65 Corp oval on the PA-
65 Corp oval on the PA-65-Corp,
Corp
Filing. The PA-65 Corp is a
65-Corp, Directory of Corporate
Directory of Corporate Partners.
payment voucher for withholding
Partners. See
How To Amend the PA-
corporate net income tax for
65 Corp.
Important.
When submitting
nonfiling corporate partners which
indicates how much was withheld for
the amended PA-65 Corp,
Important.
When submitting
each corporate partner. It is not a
enter only the amended amount of
the amended PA-65 Corp,
tax return and therefore has no
corporate net income tax withheld on
enter zero on Line 4 because the
extension provision. The corporate
Line 4.
correct amount of corporate net
net income tax withholding payment
income tax withheld and remitted on
Example.
must be remitted with the PA-65
The entity files the PA-65
April 15 was correct. All other
Corp, Directory of Corporate Partners
Corp on April 15 and remits $500 for
information on the PA-65 Corp should
by April 15. See
How To
Pay.
corporate net income tax. After filing
appear as was filed on April 15.
federal Form 1065 the partnership
Attach a statement indicating
realizes the correct amount of
there was an overpayment and the
How a 1065 Federal
corporate net income tax withheld
amount of the overpayment.
Extension Affects the
should be $600. There is an
Example.
underpayment of $100. The
The entity files the PA-65
PA-65 Corp Filing
partnership reports only $100 on the
Corp on April 15 and remits $600 for
A valid federal extension of time to
amended PA-65 Corp, Line 4.
corporate net income tax. After filing
file federal Form 1065 does not
federal Form 1065 the partnership
extend the filing time for the PA-65
Correct Payment of
realizes the correct amount of
Corp, Directory of Corporate Partners
Corporate Net Income Tax
corporate net income tax withhold is
or the remittance of corporate net
$500. There is an overpayment of
If upon filing federal Form 1065, the
income tax withholding for nonfiling
$100.
The partnership reports zero
partnership determines that it
corporate partners.
on the amended PA-65 Corp, Line 4.
correctly withheld corporate net
The partnership must timely file
income tax for a corporate partner,
the PA-65 Corp, Directory of
No Payment Required for
the partnership must submit a copy
Corporate Partners on or before the
of federal Form 1065, including
Corporate Net Income Tax
original due date and remit corporate
federal Form 1065 Schedule K-1 for
A partnership that is owned 100
net income tax withheld on behalf of
each nonfiling corporate partner with
percent by corporate partners that
its nonfiling corporate partners. The
a copy of the original PA-65 Corp,
files a Pennsylvania tax return must
partnership must pay in full the
Directory of Corporate Partners
submit a copy of federal Form 1065,
amount reasonably estimated as the
within 30 days of filing federal Form
including all federal Form 1065
Pennsylvania corporate net income
1065 with the IRS.
tax due on or before the original due
date. Failure to withhold and remit
- 4 -
Instructions for PA-65 Corp
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