Pennsylvania Underwriting Profits Tax

Underwriting Profits Tax
Underwriting Profits Tax - Domestic and Foreign Marine Insurance (RCT-124)
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.

1240022105
OFFICIAL USE ONLY

rct-124

Date Received (Official Use Only)

Page 1 of 4

08-22 (FI)

Underwriting ProfitS taX - doMeStic
and foreign Marine inSUrance
START

c

Tax Year Begin:
Revenue ID

Federal ID (FEIN)

➜

Parent Corporation (FEIN)
Tax Year End:

12/31/20_ _
due date: June 1
Please select correct letter in drop down
Check to Indicate a Change of Address
Amended Report (Include REV-1175.)
First Report

Taxpayer Name
First Line of Address
Second Line of Address

Domestic or Foreign Marine (Required):
Domestic = D Foreign = F

City

State

ZIP
Final Report (See Instructions.)

Phone
Out of Existence Date:
Email

USe whole dollarS only

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.

Marine Insurance Underwriting Profits Tax (Page 2, Line 14)
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 1 is more than Line 5, enter the difference here.)
Remittance
Overpayment: (If Line 5 is more than Line 1, 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)

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.

1240022105

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

Reset Entire Form

RETURN TO TOP

NEXT PAGE

PRINT FORM

FILL IN FORM USING ALL CAPS.DO NOT USE DASHES (-) OR SLASHES (/) IN ANY FIELD. ENTER DATES AS MMDDYYYY. USE WHOLE DOLLARS ONLY.

1240022205

rct-124

08-22 (FI)

Revenue ID

Page 2 of 4

total Underwriting Profit on Marine BUSineSS
tranSacted within PennSylVania

USe whole dollarS only

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.

Net Marine Insurance Premiums, less Net Reinsurance Premiums, written within
the U.S. (Schedule A, Column 6, Item d)
Plus: Net Unearned Marine Premiums on U.S. business at beginning of four-year
period (Schedule D, Column 7, Item a)
Total (Line 1 plus Line 2)
Less: Net Unearned Marine Premiums on U.S. business at end of four-year period
(Schedule D, Column 7, Item d)
Net Marine Premiums Earned (Line 3 minus Line 4)
Net Marine Losses incurred on business written within the U.S.
(Schedule E, Column 6, Item d)
Specific Marine Expenses incurred (Schedule F, Column 8, Item d)
Portion of general expenses chargeable to U.S. Marine Premiums
(Schedule G, Item e multiplied by Schedule G, Column 8, Item d)
Total Deduction (Line 6 plus Line 7 plus Line 8)
Net Marine Underwriting Profit on business written within the U.S.
(Line 5 minus Line 9)
Apportionment (From Schedule G, Item f)
Net Marine Underwriting Profit on business written within Pennsylvania for
three years (Line 10 multiplied by Line 11)
Average Net Marine Underwriting Profit on business within Pennsylvania for one year
(Line 12 times one-third – See Instructions.)
Tax (Line 13 times tax rate – See Instructions.)

c

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.

Preparer’s information:

1240022205

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

Reset Entire Form

RETURN TO PAGE 1

NEXT PAGE

PRINT FORM

FILL IN FORM USING ALL CAPS.DO NOT USE DASHES (-) OR SLASHES (/) IN ANY FIELD. ENTER DATES AS MMDDYYYY. USE WHOLE DOLLARS ONLY.

rct-124

08-22 (FI)

Page 3 of 4

1240022305

Revenue ID

SchedUle a

Marine PreMiUMS written within the U.S.

ITEMS

(Excluding premiums on business falling within the provisions of 72 P.S. § 2281 (c) imposing a state tax on marine insurance underwriting profits.)

1
laSt three
calendar yearS

a

Year

b

Year

c

Year

d

Totals

2
groSS
PreMiUMS

3
retUrn
PreMiUMS

4
net
PreMiUMS

5
net
reinSUrance

6
net PreMiUMS leSS
net reinSUrance
PreMiUMS

SchedUle B

ITEMS

Marine PreMiUMS written within the coMMonwealth of PennSylVania
1
laSt three
calendar yearS

a

Year

b

Year

c

Year

d

Totals

2
groSS
PreMiUMS

3
retUrn
PreMiUMS

4
net
PreMiUMS

5
net
reinSUrance

6
net PreMiUMS leSS
net reinSUrance
PreMiUMS

SchedUle c

ITEMS

PreMiUMS written – all claSSeS of BUSineSS – for the laSt three calendar yearS
within the U.S.
1
laSt three
calendar yearS

a

Year

b

Year

c

Year

d

Totals

2
groSS
PreMiUMS

3
retUrn
PreMiUMS

4
net
PreMiUMS

5
net
reinSUrance

6
net PreMiUMS leSS
net reinSUrance
PreMiUMS

SchedUle d

ITEMS

Unearned PreMiUMS on oUtStanding Marine inSUrance contractS (written within the U.S.)
at cloSe of BUSineSS dec. 31 for laSt foUr calendar yearS.
1
laSt foUr
calendar yearS

a

Year

b

Year

c

Year

d

Year

triP (or Voyage) contractS

terM contractS

adVance
PreMiUMS

5
6
4
2
3
PreMiUMS in net Unearned PreMiUMS in net Unearned net Unearned
PreMiUMS
force leSS PreMiUMS 50%
force leSS
PreMiUMS
100%
reinSUrance
reinSUrance
100%

7
total net
Unearned
PreMiUMS

1240022305
Reset Entire Form

PREVIOUS PAGE

NEXT PAGE

PRINT FORM

1240022305

FILL IN FORM USING ALL CAPS.DO NOT USE DASHES (-) OR SLASHES (/) IN ANY FIELD. ENTER DATES AS MMDDYYYY. USE WHOLE DOLLARS ONLY.

rct-124

08-22 (FI)

Page 4 of 4

Revenue ID

1240022405

SchedUle e

ITEMS

Marine loSSeS incUrred on BUSineSS written within the U.S.
for laSt three calendar yearS
1

2

3

4

5

laSt three
calendar yearS

groSS
loSSeS

reinSUrance

SalVage

total
(columns 3 and 4)

a

Year

b

Year

c

Year

d

Totals

6
net
(column 2 minus
column 5)

SchedUle f

SPecific Marine eXPenSeS incUrred on BUSineSS tranSacted within the U.S.
ITEMS

1

2
agency
laSt three
calendar coMMiSSionS
inclUding
yearS
Brokerage

a

Year

b

Year

c

Year

d

Totals

3

4

agency
eXPenSeS

federal
taXeS

5

6

State & city
loSS
taXeS & feeS adJUStMent
eXPenSe

7

8

all other
eXPenSeS

total
colUMnS 2
throUgh 7

SchedUle g

general eXPenSeS not chargeaBle SPecifically to any ParticUlar claSS of BUSineSS
ITEMS

1

2

3
adVertiSing
laSt three SalarieS of
&
officerS &
calendar
SUBScriPeMPloyeeS
yearS
tionS

4

5

6

7

8

federal
taXeS

rentS

Printing &
Stationery

all other
eXPenSeS

total
colUMnS 2
throUgh 7

a

Year

b

Year

c

Year

d

Totals

e.

Three-year ratio of U.S. marine premiums (Schedule A, Column 4, Item d) to total net premiums for all classes
of business within the U.S. (Schedule C, Column 4, Item d). Calculate to six decimal places . . . . . . . . . . . . . .

f.

Three-year ratio of net marine premiums written within Pennsylvania (Schedule B, Column 4, Item d) to total
net marine premiums written within the U.S. (Schedule A, Column 4, Item d). Calculate to six decimal places .
attach copy of Pennsylvania Business Page of the annual report filed with the Pennsylvania insurance
department.
note: If the company is licensed to write ocean marine premiums in Pennsylvania, this report must be filed whether or not
ocean marine premiums were written.

1240022405
Reset Entire Form

PREVIOUS PAGE

NEXT PAGE

PRINT FORM

1240022405

Instructions for RCT-124

Underwriting Profits Tax - Domestic & Foreign Marine Insurance

RCT-124 (SU) IN 10-23

GENERAL INFORMATION
● The RCT-124 can now be filed electronically at
mypath.pa.gov.
REMINDER
● 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.
● Taxpayers may request a 60 day extension to file this
report electronically via myPATH 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.

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
of the taxpayer.
TAX YEAR
Enter month, day, and year (MMDDYYYY) for the tax year
beginning and year (YY) for the tax year end.
REPORT DUE DATE
This report is due on June 1 for the preceding year ended
Dec. 31. If June 1 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 now a minimum of $500,
regardless of the determined tax liability, plus an additional
1 percent of any determined tax liability over $25,000.

● 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.

● Use ONLY the most current, non-year-specific tax
form and instructions for filing ALL years. 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.

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.

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.

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.

● Complete RCT-124, Domestic and Foreign Marine
Insurance Tax Report.
● Copy of the Pennsylvania Business Page and Schedule
T of the annual report filed with the PA Insurance
Department.
● Corporate officer’s signature on Page 1 and preparer’s
signature and PTIN on Page 2 (if applicable).
IMPOSITION, BASE AND RATE
This tax is imposed under the Act of May 13, 1927, (P.L. 998,
No. 486) at the rate of 5 percent on marine insurance companies’ underwriting profits attributable to Pennsylvania
business transactions.
REVENUE ID, FEDERAL EMPLOYER IDENTIFICATION
NUMBER (FEIN), PARENT CORPORATION FEIN, NAME,
AND ADDRESS
The Revenue ID number, FEIN, name, and complete mailing

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 underwriting profits tax filing.

www.revenue.pa.gov
PREVIOUS PAGE

RCT-124
NEXT PAGE

1

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 information from the Pennsylvania Insurance
Department verifying the taxpayer’s insurance license
expired, was cancelled or not renewed.
● 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.
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 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,
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,
and PTIN/SSN of the individual preparing the report.
EXTENSION REQUEST DUE DATE
To request a due date extension of up to 60 days 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 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
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:
2

RCT-124

PA DEPARTMENT OF REVENUE
PO BOX 280427
HARRISBURG PA 17128-0427
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 the RCT-124, the taxpayer must instruct the department to refund or transfer
overpayment as indicated below.
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.
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.
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-124 and written correspondence.

CONTACT INFORMATION
● For additional information regarding electronic payments
visit the departments Online Customer Service Center
at revenue.pa.gov.
● Questions regarding payments or refunds, email
[email protected].
● General business tax questions, visit the department's Online Customer Service Center at revenue.pa.gov.
● 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.

LINE INSTRUCTIONS
RCT-124 should be completed in the following order:
(Page instructions start with Page 3 below.)
STEP 1
Complete the taxpayer information section and any applicable questions at the top of Page 1.
www.revenue.pa.gov

PREVIOUS PAGE

NEXT PAGE

STEP 2
Indicate the type of insurance company on Page 1, Domestic
or Foreign. 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 3, Schedules A-D.
STEP 5
Complete Page 4, Schedules E-G.
STEP 6
Complete Page 2, Calculation of Tax.
STEP 7
Complete Page 1, Lines 1 through 10.
STEP 8
Complete the corporate officer information section, sign, and
date at the bottom of Page 1.
STEP 9
Complete the preparer information section, sign, and date
at the bottom of Page 2, if applicable.
STEP 10
Mail the completed report and any supporting schedules to
the PA Department of Revenue.

PAGE 3
SCHEDULE A
Marine Premiums Written Within the U.S.

SCHEDULE B
Marine Premiums Written in the Commonwealth of
Pennsylvania

SCHEDULE C
Premiums Written- All Classes of Business for the Last
Three Calendar Years Within the U.S.
NOTE: Schedules A, B, and C include the following
information for items a through c:

COLUMN 1
LAST THREE CALENDAR YEARS
Enter the years in chronological order. (earliest in Item a, etc.)

COLUMN 2
Enter the Gross Premiums.

COLUMN 3
Enter the Return Premiums.

COLUMN 4
NET PREMIUMS
Enter the difference of Column 2 minus Column 3.

COLUMN 5
Enter the Net Reinsurance.

COLUMN 6
TOTAL NET PREMIUMS
Enter the difference of Column 4 minus Column 5.
Enter the totals of Columns 2 through 6 on Item d.

SCHEDULE D
Unearned Premiums on Outstanding Marine Insurance
Contracts Written Within the U.S. at the Close of Business
Dec. 31 for the Last Four Calendar Years
NOTE: Schedule D includes the following information
for items a through d:

COLUMN 1
LAST FOUR CALENDAR YEARS
Enter the years in chronological order. (earliest in Item a, etc.)
TRIP (OR VOYAGE) CONTRACTS

COLUMN 2
Enter the Premiums in Force Less Reinsurance.

COLUMN 3
Enter the Net Unearned Premiums 100%.
TERM CONTRACTS

COLUMN 4
Enter the Premiums in Force Less Reinsurance.

COLUMN 5
Enter the Net Unearned Premiums 50%.

COLUMN 6
ADVANCE PREMIUMS
Enter the Net Unearned Premiums 100%.

COLUMN 7
Enter the Total Net Unearned Premiums for each year.
(Column 3 plus Column 5 plus Column 6)

PAGE 4
SCHEDULE E
Marine Losses Incurred on Business Written Within the U.S.
for the Last Three Calendar Years
NOTE: Schedule E includes the following information
for items a through c:

COLUMN 1
LAST THREE CALENDAR YEARS
Enter the years in chronological order. (earliest in Item a, etc.)

www.revenue.pa.gov
PREVIOUS PAGE

RCT-124
NEXT PAGE

3

COLUMN 2
Enter the Gross Losses.

COLUMN 3
Enter the Reinsurance.

COLUMN 4
Enter the Salvage.

COLUMN 5
TOTAL OF REINSURANCE AND SALVAGE
Enter the sum of Column 3 plus Column 4.

COLUMN 6
NET LOSSES
Enter the difference of Column 2 minus Column 5.
Enter the totals of Columns 2 through 6 on Item d.

SCHEDULE F
Specific Marine Expenses Incurred on Business Transacted
Within the U.S.
NOTE: Schedule F includes the following information
for items a through c:

COLUMN 1
LAST THREE CALENDAR YEARS
Enter the years in chronological order. (earliest in Item a, etc.)

COLUMN 2
Enter Agency Commissions Including Brokerage.

COLUMN 3
Enter Agency Expenses.

COLUMN 4
Enter Federal Taxes.

COLUMN 5
Enter State & City Taxes and Fees.

COLUMN 6
Enter Loss Adjustment Expense.

COLUMN 7
Enter all Other Expenses.

COLUMN 8
TOTAL MARINE EXPENSES
Enter the sum of Columns 2 through 7.
Enter the totals of Columns 2 through 8 on Item d.

SCHEDULE G
General Expenses Not Chargeable Specifically to Any
4

RCT-124

Particular Class of Business
NOTE: Schedule G includes the following information
for items a through c:

COLUMN 1
LAST THREE CALENDAR YEARS
Enter the years in chronological order. (earliest in Item a, etc.)

COLUMN 2
Enter Salaries of Officers and Employees.

COLUMN 3
Enter Advertising and Subscription Expenses.

COLUMN 4
Enter Federal Tax Expenses.

COLUMN 5
Enter Rent Expenses.

COLUMN 6
Enter Printing and Stationery Expenses.

COLUMN 7
Enter all Other Expenses.

COLUMN 8
TOTAL GENERAL EXPENSES
Enter the sum of Columns 2 through 7.
Enter the totals of Columns 2 through 8 on Item d.
ITEM E
Three year ratio of U.S. Marine Premiums to Total Net
Premiums for All Classes of Business Within the U.S.
Enter the result of Schedule A, Column 4, Item d divided by
Schedule C, Column 4, Item d.
NOTE: Calculate to six decimal places.
ITEM F
Three year ratio of Net Marine Premiums Written Within
Pennsylvania to Total Net Marine Premiums Written Within
the U.S.
Enter the result of Schedule B, Column 4, Item d divided by
Schedule A, Column 4, Item d.
NOTE: Calculate to six decimal places.
Attach Copy of the Pennsylvania Business Page and
Schedule T of the Annual Report filed with the Pennsylvania Insurance Department.
NOTE: If the company is licensed to write ocean
marine premiums in Pennsylvania, this report
must be filed whether or not ocean marine premiums
were written in Pennsylvania for that particular year.
www.revenue.pa.gov

PREVIOUS PAGE

NEXT PAGE

PAGE 2
CALCULATION OF TAX

LINE 1
NET MARINE INSURANCE PREMIUMS
Enter the amount from Schedule A, Column 6, Item d.

LINE 2
NET UNEARNED MARINE PREMIUMS ON U.S.
BUSINESS (BEGINNING OF 4 YEAR PERIOD)
Enter the amount from Schedule D, Column 7, Item a.

LINE 3
TOTAL
Enter the total of Lines 1 and 2.

LINE 4
NET UNEARNED MARINE PREMIUMS ON U.S.
BUSINESS (END OF 4 YEAR PERIOD)
Enter the amount from Schedule D, Column 7, Item d.

LINE 5
NET MARINE PREMIUMS EARNED
Enter the difference of Line 3 minus Line 4.

LINE 6
NET MARINE LOSSES INCURRED ON BUSINESS
WRITTEN WITHIN THE UNITED STATES
Enter the amount from Schedule E, Column 6, Item d.

LINE 7
SPECIFIC MARINE EXPENSES INCURRED
Enter the amount from Schedule F, Column 8, Item d.

LINE 8
PORTION OF GENERAL EXPENSES CHARGEABLE TO
U.S. MARINE PREMIUMS
Multiply Schedule G, Item e by Schedule G, Column 8, Item d.

LINE 9
TOTAL DEDUCTIONS
Enter the total of Line 6 through 8.

LINE 10
NET MARINE UNDERWRITING PROFIT ON BUSINESS
WRITTEN WITHIN THE U.S.
Enter the difference of Line 5 minus Line 9.

LINE 11
APPORTIONMENT
Enter the amount from Schedule G, Item f. This figure is to
be expressed as a decimal (x.xxxxxx)

LINE 12
NET MARINE UNDERWRITING PROFIT ON BUSINESS
WRITTEN WITHIN PENNSYLVANIA FOR THREE YEARS
Multiply Line 10 by Line 11. If Line 10 is negative, enter zero.

LINE 13
AVERAGE NET MARINE UNDERWRITING PROFIT ON
BUSINESS WITHIN PENNSYLVANIA FOR ONE YEAR
Multiply Line 12 by one third.

LINE 14
TAX
Multiply Line 13 by 5 percent (0.05). Carry the tax to RCT124, Page 1, Line 1.

www.revenue.pa.gov
PREVIOUS PAGE

RCT-124
RETURN TO PAGE 1

5