Pennsylvania PA Bank and Trust Company Shares Tax Report

PA Bank and Trust Company Shares Tax Report
Pennsylvania Bank and Trust Company Shares Tax Report (RCT-132 B)
IMPORTANT: FILL IN FORM MUST BE DOWNLOADED ONTO YOUR COMPUTER PRIOR TO COMPLETING
FILL IN FORM USING ALL CAPS. DO NOT USE DASHES (-) OR SLASHES (/) IN ANY FIELD. ENTER DATES AS MMDDYYYY. USE WHOLE DOLLARS ONLY.

1322022105
OFFICIAL USE ONLY

rCT-132 B 08-22 (FI) Page 1 of 5

Date Received (Official Use Only)

PennSylVanIa BanK and TrUST CoMPany
ShareS TaX rePorT
START

Revenue ID

Federal ID (FEIN)

Shares Tax:

due date: March 15

Parent Corporation (FEIN)

➜

C

01/01/20_ _

Please select correct letter in drop down

Check to Indicate a Change of Address
Amended Report (Include REV-1175.)
First Report
Assigned/Purchased Restricted Credits

Taxpayer Name
First Line of Address

Final Report (See Instructions.)
Second Line of Address
Out of Existence Date:
State

City

ZIP
Indicate Type of Bank (required):
National Bank = A,
State Bank = B,
Trust Company = C

Phone
Email

USe whole dollarS only

1a.
1b.
1c.
2.
3.
4.
5.
6.
7.
8.
9.
10.

Shares Tax (Page 2, Line 13)
Loans Tax (Leave blank for tax periods beginning after Dec. 31, 2013.)
Total Shares Tax
Total Estimated Payments
Total Payments Carried Forward From Prior Year Return
Total “Restricted” Tax Credits
Total Credit: (Line 2 plus Line 3 plus Line 4)
Tax Due: (If Line 1c is more than Line 5, enter the difference here.)
Remittance
Overpayment: (If Line 5 is more than Line 1c, enter the difference here.)
Refund: (Amount of Line 8 to be refunded after offsetting all unpaid liabilities)
Transfer: (Amount of Line 8 to be credited to the next tax year after offsetting
all unpaid liabilities)

1a.
1b.
1c.
2.
3.
4.
5.
6.
7.
8.
9.
10.

1322022105

Corporate officer Information:

Officer Last Name

Social Security
Number of Officer

Officer First Name
Title of Officer

Phone
Email

I affirm under penalties prescribed by law, this report, including any accompanying schedules and statements, has been examined by me and to the best of my
knowledge and belief is a true, correct and complete report. If this report is an amended report, the taxpayer hereby consents to the extension of the assessment
period for this tax year to one year from the date of filing of this amended report or three years from the filing of the original report, whichever period last expires,
and agrees to retain all required records pertaining to that tax and tax period until the end of the extended assessment period, regardless of any statutory provision providing for a shorter period of retention. For purposes of this extension, an original report filed before the due date is deemed filed on the due date. I am
authorized to execute this consent to the extension of the assessment period.

Signature of officer

date
Signature of Officer – Please sign after printing

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1322022205

Revenue ID

rCT-132 B 08-22 (FI) Page 2 of 5
Lines 7, 11 and 16 should be 1.000000 or less.

USe whole dollarS only

C

Calculation of end of year Taxable Shares
1.
2.
3.
4.
5.
6.
7.
8.
9.

Total Bank Equity Capital (If applicable, use Adjusted Total Bank Equity from Page 5, Item D.)
Total Assets
Goodwill (See Instructions.) (Attach schedule.)
Net Bank Equity (Line 1 minus Line 3)
Net Assets (Line 2 minus Line 3)
U. S. Obligations (Attach schedule.)
Divide Line 6 by Line 5 (Carry to 6 decimal places)
Deduction for U. S. Obligations (Multiply Line 4 by Line 7)
Current End of Year Value of Shares (Subtract Line 8 from Line 4)

1.
2.
3.
4.
5.
6.
7.
8.
9.

Calculation of Shares Tax
10.
11.
12.
13.

Current End of Year Value of Shares (Line 9 above)
Shares Tax Apportionment (Line 16 below)
Total Amount of Shares Subject to Tax (Line 10 times Line 11)
Tax (Line 12 times tax rate – See Instructions.)

10.
11.
12.
13.

Calculation of Shares Tax apportionment
14.
15.
16.

Total Receipts Inside PA (From Page 3, Schedule A, Line 16a)
Total Receipts Everywhere (From Page 3, Schedule A, Line 16b)
Receipts Factor (Line 14 divided by Line 15)

14.
15.
16.

1322022205

Preparer’s Information:
Firm Name
Firm FEIN
Address
City
State
ZIP

Individual Preparer Name
Phone
Email
Social Security Number
or PTIN

I affirm under penalties prescribed by law, this report, including any accompanying schedules and statements, has been prepared by me and to the best of my
knowledge and belief is a true, correct and complete report.

Signature of Preparer

date
Signature of Preparer – Please sign after printing

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1322022305

rCT-132 B 08-22 (FI) Page 3 of 5

Revenue ID

Schedule a

Must be completed in its entirety.

C

InSIde PennSylVanIa

receipts factor

eVerywhere

Line 17 should be 1.000000 or less.
1.
2.
3.

4.

5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.

Receipts from Lease or Rental of
real Property
Receipts from Lease or Rental of
Tangible Personal Property
Interest, Fees and Penalties in
Connection with Loans Secured by
Real Property
Interest, Fees and Penalties in
Connection with Loans Not Secured
by Real Property
Net Gains from Sale of Loans
Interest, Fees and Penalties Charged
to Cardholders
Net Gains from Sale of Credit Card
Receivables
Card Issuer’s Reimbursement Fees
Receipts from Merchant’s Discounts
ATM Fees
Loan Servicing Fees
Receipts from Services
Receipts from Investment/Trading Assets
and Activities
Receipts from Sale or Disposition of
Property
All Other Receipts

16. Total Receipts (Add Lines 1 through 15)

1a.

1b.

2a.

2b.

3a.

3b.

4a.
5a.

4b.
5b.

6a.

6b.

7a.
8a.

7b.
8b.

9a.

9b.

10a.
11a.

10b.
11b.

12a.

12b.

13a.

13b.

14a.
15a.

14b.
15b.

16a.

16b.
17.

17. Receipts Factor (Line 16a divided by
Line 16b, carry to six decimal places)

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1322022305

1322022305
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rCT-132 B 08-22 (FI) Page 4 of 5

Revenue ID

rCT-132 B SChedUle a1
reCeIPTS faCTor for BanK ShareS TaX
CORPORATION NAME:

TAX PERIOD: 01/01/

Act 52 of 2013 changed the manner in which institutions calculate bank shares tax, requiring institutions to include receipts from trading and
investment assets/activities in the numerator of the receipts factor by choosing one of two alternate methods referenced in the statute as
Method 1 or Method 2.
The taxpayer must complete this schedule to indicate which method is used to calculate the numerator of the receipts factor. This method
must be used on all subsequent reports unless the Department of Revenue grants PrIor approval to change methods. If you are changing
your method, provide a copy of the department’s approval with the report (see instructions).
After the calculation is completed, the numerator must be carried to RCT-132 B, Page 3, Schedule A, Line 13a.
Method 1 (see below.)

Method 2 (see below.)

Method 1 numerator Calculation
Total receipts from trading assets
and activities AND investment assets
and activities.

All other PA receipts
All other receipts

X
X

=

Line13a
PA numerator

=

Method 2 numerator Calculation
Total receipts from trading assets
and activities AND investment assets
and activities.

X

Average value of PA assets
that produce the receipts
Average value of all such assets

X

=

Line13a
PA numerator

=

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rCT-132 B 08-22

(FI) Page

Revenue ID

5 of 5

An Edge Act Corporation is a subsidiary of a bank or bank holding company or financial holding company, that is chartered
by the Federal Reserve under Section 25A of the Federal Reserve Act, as amended in 1916 and 1919, to engage in foreign
banking activities. The Federal Reserve Board authorizes U.S. and foreign banking and financial organizations to establish
Edge Act Corporations.
rCT-132 B SChedUle B
CalCUlaTIon for edge aCT eXClUSIon

Book Value of Total Equity Capital of Subsidiary
from December 31st quarterly Report of Condition

Name of Subsidiary

(A) TOTAL

$
SHOW AS WHOLE NUMBER

X
(a) TOTAL FROM ABOVE

%

=

EXCLUSION PERCENTAGE

(C) TOTAL BANK EQUITY OF PARENT

(B) ALLOWABLE EXCLUSION

=
(B) ALLOWABLE EXCLUSION

(d) ADJUSTED TOTAL BANK EQUITY

The Adjusted Total Bank Equity should be carried to Page 2, Line 1.
In order to take the exclusion, you must complete the above calculations and include copies of the fr 2886b,
Consolidated report of Condition and Income for edge and agreement Corporations, for each subsidiary.

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Instructions for RCT-132 B

Pennsylvania Bank and Trust Company - Shares Tax Report

RCT-132B (SU) IN 08-22

WHAT’S NEW
● The RCT-132B can now be filed electronically at
mypath.pa.gov.
● EDGE ACT CORPORATION EXCLUSION
Institutions which file Reports of Condition on a consolidated basis with the subsidiaries formed pursuant to 12
U.S.C. § 611 (relating to the formation authorized; fiscal
agents; depositaries in insular possessions), total bank
equity capital shall exclude the book value of the total
equity capital of the subsidiaries in accordance with the
following schedule:
For calendar year beginning Jan. 1, 2018, the exclusion
for the book value of total equity capital of the subsidiaries shall be limited to 20% of the book value of total
equity capital of the subsidiaries.
For calendar year beginning Jan. 1, 2019, the exclusion
is limited to 40%.
For calendar year beginning Jan. 1, 2020, the exclusion
is limited to 60%.
For calendar year beginning Jan. 1, 2021, the exclusion
is limited to 80%.
For calendar year beginning Jan. 1, 2022, and each calendar year thereafter, the exclusion is limited to 100%.

GENERAL INFORMATION
REMINDER
The shares tax rate is 0.95% effective beginning Jan. 1,
2017.
For purposes of apportionment, receipts include all items of
income reported on the income statement of the institution's
Reports of Condition at the end of the preceding calendar
year. For an institution that does not file quarterly Reports
of Condition, receipts include all items of income included
on an income statement determined in accordance with
Generally Accepted Accounting Principles for the preceding
calendar year.
● All payments of $1,000 or more must be made electronically or by certified or cashier’s check remitted in person
or by express mail courier.
● Use only whole dollars when preparing tax reports.
● RCT-132 B is used to report Pennsylvania bank and trust
company shares tax. This form is ONLY to be used by
national and state banks and trust companies to report
shares tax for Jan. 1, 2015 and forward.
www.revenue.pa.gov

NOTE: If filing for a prior year, please use the
appropriate form and instructions in the yearspecific folder found on the department’s website at
www.revenue.pa.gov.
● Taxpayers may request a six month extension to file this
report electronically at mypath.pa.gov or by filing the
REV-426.
NOTE: The automatic PA extension provided by
Act 52 of 2013 to those with valid federal extensions DOES NOT apply to this tax.
● An institution is engaged in doing business in this commonwealth and is subject to the tax imposed under
Article VII if it generates gross receipts apportioned
to this commonwealth under Section 701.4 of the tax
reform code and satisfies any of the nexus requirements. See instructions for Page 3 of RCT-132 B for calculation of Receipts Factor.
● The penalty imposed for failure to file timely reports is a
minimum of $500, regardless of the determined tax liability, plus an additional 1 percent of any determined tax
liability over $25,000.
● Use ONLY the most current, non-year-specific tax form
and instructions for filing the current tax year report. If
an amended report must be filed, taxpayers must
use the most current, non-year-specific tax form,
completing all sections of the form. REV-1175,
Schedule AR (explanation for amending), must be
included when filing an amended report.
ANNUAL REPORT CHECKLIST
Make sure you include the following to file your annual report
properly and completely:
● Negative amounts must be written using a minus sign
preceding the number. Do not use parentheses.
● Complete RCT-132 B, Pennsylvania Bank and Trust
Company Shares Tax Report.
● A complete copy of the Dec. 31 Quarterly Report of Condition as reported with the appropriate regulatory authorities to include Schedule RI-Income Statement, Schedule
RC-Balance Sheet and all other schedules included within
the Report of Condition. If an institution does not file the
Reports of Condition, items of income and book values
shall be determined by Generally Accepted Accounting
Principles as of the end of the preceding calendar year.
● Detailed schedules for Goodwill and U.S. Obligations
claimed on the tax report.
● Corporate officer’s signature on Page 1 and preparer’s
signature and PTIN on Page 2, if applicable.
IMPOSITION, BASE AND RATE
Shares tax is imposed at the rate of 0.95 percent on taxable
RCT-132 B

1

shares of bank and trust companies located in Pennsylvania
and having capital stock.
Loans tax has been repealed for the tax periods beginning
after Dec. 31, 2013. Do not complete Line 1b on Page 1 for
such tax periods.
REVENUE ID, FEDERAL EMPLOYER IDENTIFICATION
NUMBER (FEIN), PARENT CORPORATION FEIN, NAME
AND ADDRESS
The Revenue ID number, FEIN, name and complete mailing
address must be provided. If the taxpayer is a subsidiary
of a corporation, the parent corporation’s FEIN must be
provided. Also provide the telephone number and email
address of the taxpayer.
TAX YEAR
For shares tax enter the year (YY) of the spot tax.
REPORT DUE DATE
This report is due on March 15 following the Jan. 1 shares
reported. If March 15 falls on a Saturday, Sunday or holiday,
the report is due the next business day. The penalty imposed
for failure to file timely reports is a minimum of $500,
regardless of the determined tax liability, plus an additional
1 percent of any determined tax liability over $25,000.
ADDRESS CHANGE
Enter “Y” in the block on Page 1 if the address of the corporation has changed from prior tax periods. The current
mailing address should be reflected on the report.
AMENDED REPORT
Enter “Y” in the block on Page 1 if you are filing an amended
report to add, delete or adjust information. Provide documentation to support all changes being made. An amended
report should only be filed if an original report was filed
previously for the same period.
The taxpayer has three (3) years after the due date of the
original report to file an amended report. If the original report
was properly extended, then the taxpayer has three (3)
years after the extended due date to file an amended report.
The department may adjust the tax originally reported based
on information from the amended report. The taxpayer must
consent to extend the assessment period. If the amended
report is timely filed and the taxpayer consented to extend
the assessment period, the time period in which to assess
tax will be the greater of three years from the filed date of
the original report or one year from the filed date of the
amended report.
Regardless of the tax year being amended, taxpayers must
use the most current non-year-specific tax form, completing
all sections of the report. This includes those sections
originally filed and those sections being amended. All tax
liabilities should be recorded on Page 1. Taxpayers must
check the Amended Report check box on Page 1 and
include Schedule AR, REV-1175, with the report.
FIRST REPORT
Enter “Y” in the block on Page 1 if this is the taxpayer’s first
PA shares tax filing.
2

RCT-132 B

ASSIGNED/PURCHASED RESTRICTED CREDITS
Enter "Y" in the block on Page 1 if the taxpayer is using
credits assigned or purchased from another entity.
FINAL REPORT
● Enter “Y” in the block on Page 1 if this report will be the
final report filed with the department. Indicate the effective date of the event as MMDDYYYY.
● Include a copy of the regulatory authority’s approval of
the merger, dissolution, plan of reorganization and/or
articles of merger.
● Provide the Revenue ID and FEIN of the surviving entity,
if applicable.
● Provide notification that the Federal Deposit Insurance
Corporation is acting as a receiver “under title 12 USC.
§ 1825(b)(1)”.
CORPORATE OFFICER INFORMATION
A corporate officer must sign and date the tax report. The
signature must be original; photocopies or faxes will not be
accepted. Print the first and last name, title, Social Security
number, telephone number and email address of the corporate officer.
PREPARER’S INFORMATION
Paid preparers must sign and date the tax report. If the preparer works for a firm, provide the name, FEIN and address
of the firm along with the name, telephone number, email
address and PTIN/SSN of the individual preparing the
report. If the preparer is an individual without any association
to a firm, provide the name, address, telephone number,
email address and PTIN/SSN of the individual preparing the
report.
EXTENSION REQUEST DUE DATE
To request a due date extension of up to six months to file the
annual report, you must file an extension request by the original report due date. You can request an extension on
mypath.pa.gov or by sending the REV-426. However, an extension of time to file does not extend the deadline for payment of tax and an extension request must be accompanied
by payment of taxes owed for the taxable year for which the
extension is requested.
Mail the extension coupon separately from all other forms.
A taxpayer using an electronic method to make a payment
with an extension request should not submit the extension
coupon. Do not use the extension coupon to remit other
unpaid liabilities within the account.
PAYMENT AND MAILING INFORMATION
All payments of $1,000 or more must be made electronically
or by certified or cashier’s check mailed to:
PA DEPARTMENT OF REVENUE
PO BOX 280404
HARRISBURG PA 17128-0404
Tax returns and certified or cashier’s check may be remitted
in person or by express mail courier. Mail payments and
returns to the following address:
PA DEPARTMENT OF REVENUE
1854 BROOKWOOD ST
HARRISBURG PA 17104
www.revenue.pa.gov

Payments under $1,000 may be remitted by mail, made
payable to the PA Department of Revenue. Mail payments,
extension requests and returns to the following address:
PA DEPARTMENT OF REVENUE
PO BOX 280407
HARRISBURG PA 17128-0407
Failure to make a payment by an approved method will
result in the imposition of a 3 percent penalty of the tax due,
up to $500. For more information on electronic filing options,
visit mypath.pa.gov.
CURRENT PERIOD OVERPAYMENT
If an overpayment exists on Page 1 of RCT-132 B, the taxpayer must instruct the department to refund or transfer
overpayment as indicated below.

STEP 1
Complete the taxpayer information and any applicable questions at the top of Page 1.
STEP 2
Indicate the type of bank on Page 1 - National Bank, State
Bank, or Trust Company. This information is required.
STEP 3
Enter the Revenue ID and other taxpayer information in the
designated fields at the top of each page.
STEP 4
Complete Page 5, Schedule B.
STEP 5
Complete Page 4, Schedule A1.

REFUND
Identify the amount to refund from the current tax period
overpayment. Prior to any refund, the department will offset
current period liabilities and other unpaid liabilities within the
account.

STEP 6
Complete Page 3, Schedule A, Receipts Factor.

TRANSFER
Identify the amount to transfer from the current tax period
overpayment to the next tax period. Prior to any transfer, the
department will offset current period liabilities and other
unpaid liabilities within the account.

STEP 8
Complete Page 2, Calculation of End of Year Taxable
Shares (Lines 1 through 9).

NOTE: If no option is selected, the department will
automatically transfer any overpayment to the next tax
year after offsetting current period liabilities and other unpaid
liabilities within the account.
REQUESTS FOR REFUND OR TRANSFER OF
AVAILABLE CREDIT
Requests for refund or transfer of available credit from prior
periods can be requested on company letterhead, signed
by an authorized representative, and emailed to
[email protected].
Please do not duplicate requests for refund and/or transfer
by submitting both RCT-132 B and written correspondence.

CONTACT INFORMATION
● For additional information regarding electronic
payments visit the departments Online Customer
Service Center at www.revenue.pa.gov.
● Questions regarding payments or refunds, email
[email protected].

STEP 7
Complete Page 2, Calculation of Shares Tax Apportionment
(Lines 14 through 16).

STEP 9
Complete Page 2, Calculation of Shares Tax (Lines 10
through 13).
STEP 10
Complete Page 1, Tax Liability, Payment and Overpayment
section.
STEP 11
Complete the corporate officer information section, sign and
date at the bottom of Page 1.
STEP 12
Complete the preparer information section, sign and date at
the bottom of Page 2, if applicable.
STEP 13
Mail the complete report and all supporting schedules to the
PA Department of Revenue.
PENNSYLVANIA BANK AND TRUST COMPANIES
SHARES TAX INSTRUCTIONS FOR APPORTIONMENT

PAGE 3
SCHEDULE A

● General business tax questions, visit the department's
Online
Customer
Service
Center
at
www.revenue.pa.gov.

RECEIPTS FACTOR MUST BE COMPLETED IN ITS
ENTIRETY.

● Business taxpayers and tax practitioners have the ability
to receive and view department issued electronic
statement of accounts and correspondence
electronically by visiting mypath.pa.gov.

WHO MAY APPORTION?
A financial institution may apportion its taxable amount
of shares if the institution is or could be subject to tax in
another state based on or measured by net worth, gross
receipts, net income or another similar base of taxation.

LINE INSTRUCTIONS
RCT-132 B should be completed in the following order:
(Page instructions start with Page 3.)
www.revenue.pa.gov

RECEIPTS FACTOR
The numerator is total receipts in Pennsylvania and the
denominator is total receipts everywhere. For purposes of
RCT-132 B

3

apportionment, receipts include all items of income reported
on the income statement of the institution's Reports of Condition at the end of the preceding calendar year. For an
institution that does not file quarterly Reports of Condition,
receipts include all items of income included on an income
statement determined in accordance with Generally Accepted
Accounting Principles for the preceding calendar year.
An institution is engaged in doing business in this commonwealth and is subject to the tax imposed under Article VII
if it generates gross receipts apportioned to this commonwealth under Section 701.4 (see instructions below for calculation of Receipts Factor) and satisfies any of the nexus
requirements.
For more information on the determination of the location of receipts see Article VII, Section 701.4 of the Tax
Reform Code, as amended, 72 P.S. § 7701.4.

LINE 1
Receipts from Lease or Rental of Real Property.

LINE 2
Receipts from Lease or Rental of Tangible Personal Property.

LINE 13
Receipts from Investment/Trading, Assets and Activities.
Complete Page 4. Schedule A1.

LINE 14
Receipts from Sale or Disposition of Property.

LINE 15
All Other Receipts.

LINE 16
Total Receipts (Add Lines 1 through 15.)

LINE 17
Receipts Factor (Line 16a divided by Line 16b; carry to 6
decimal places.)

PAGE 2
PAGE 2 CALCULATION OF SHARES
TAX APPORTIONMENT

LINE 3

LINE 14

Interest Fees and Penalties in Connection with Loans
Secured by Real Property.

Total Receipts Inside PA (from Page 3, Schedule A, Line
16a.)

LINE 4

LINE 15

Interest Fees and Penalties in Connection with Loans Not
Secured by Real Property.

Total Receipts Everywhere (from Page 3, Schedule A, Line
16b.)

LINE 5

LINE 16

Net Gains from Sale of Loans.

LINE 6
Interest Fees and Penalties Charged to Cardholders.

LINE 7
Net Gains from Sale of Credit Card Receivables.

LINE 8
Card Issuer’s Reimbursement Fees.

LINE 9
Receipts from Merchant Discounts.

LINE 10
ATM Fees.

LINE 11
Loans Servicing Fees.

LINE 12
Receipts from Services.
4

RCT-132 B

Receipts Factor (Line 14 divided by Line 15; carry to six
decimal places.)
CALCULATION OF END OF YEAR TAXABLE SHARES
A. The book value used for this schedule is the value
reflected on the Dec. 31 Quarterly Report of Condition
filed with the appropriate regulatory authority. If the total
bank equity capital and total assets do not match the
end of year balance sheet, provide a schedule reconciling the difference.
B. For trust companies that do not file reports of condition,
book value is the value at the end of the year under generally accepted accounting principles.
C. A taxpayer taking a deduction for goodwill MUST provide a schedule detailing the goodwill listed on the balance sheet of the applicable call report. Include the
name of the entity, date of combination and amount of
goodwill. Goodwill is a deduction from total bank equity
capital and total assets.
D. Submit a schedule identifying U.S. obligations by names
and amounts claimed for the Dec. 31 quarter. Please
refer to Corporation Tax Bulletin 94 (Revised) for a list
of those obligations which constitute U.S. obligations
and non U.S. obligations.
www.revenue.pa.gov

END OF YEAR TAXABLE SHARES

LINE 1
Total Bank Equity Capital from Balance Sheet (See A or B
above.)
NOTE: If a calculation was completed on Page 5 for
an Edge Act Exclusion, Line 1 should be the Adjusted
Total Bank Equity.

LINE 2
Total Assets from Balance Sheet (See A or B above.)

LINE 3
Goodwill (See C above.)

LINE 4
Net Bank Equity (Line 1 minus Line 3.)

LINE 5
Net Assets (Line 2 minus Line 3.)

LINE 6
U.S. Obligations (See D above.)

LINE 7
Divide Line 6 by Line 5; carry to 6 decimal places.

LINE 13
Tax (Multiply Line 12 by 0.95 percent (0.0095). Carry the tax
to RCT-132 B, Page 1, Line 1a.

PAGE 4
SCHEDULE A1
RECEIPTS FACTOR
Procedure for requesting approval to change methods:
For the Jan. 1, 2018 shares tax, the taxpayer must submit a
letter of request, including supporting documentation, for
approval to change method.
The letter of request must be sent to the following address:
PA DEPARTMENT OF REVENUE
PO BOX 280700
HARRISBURG PA 17128-0700

PAGE 5
SCHEDULE B
CALCULATION FOR EDGE ACT EXCLUSION
CAUTION: In order to take the exclusion, you must
complete the calculations on Page 5, Schedule B,
AND include copies of the FR 2886b, Consolidated Report
of Condition and Income for Edge and Agreement Corporations, for each subsidiary.

LINE 9

Exclusion Percentages
For calendar year beginning Jan. 1, 2018, the exclusion for
the book value of total equity capital of the subsidiaries shall
be limited to 20% of the book value of total equity capital of
the subsidiaries.

Current End of Year Value of Shares (Subtract Line 8 from
Line 4.)

For calendar year beginning Jan. 1, 2019, the exclusion is
limited to 40%.

CALCULATION OF SHARES TAX

For calendar year beginning Jan. 1, 2020, the exclusion is
limited to 60%.

LINE 8
Deduction for U.S. Obligations (Multiply Line 4 by Line 7.)

LINE 10
Current End of Year Value of Shares (from Line 9 above.)

For calendar year beginning Jan. 1, 2021, the exclusion is
limited to 80%.

LINE 11

For calendar year beginning Jan. 1, 2022, and each calendar year thereafter, the exclusion is limited to 100%.

Shares Tax Apportionment (from Line 16); carry to six decimal places.

CAUTION: Show percent as a whole number. Do not
use a decimal.

LINE 12
Total Amount of Shares Subject to Tax (Line 10 times Line
11.)

www.revenue.pa.gov

RCT-132 B

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