Pennsylvania Gross Receipts Tax Report

Gross Receipts Tax Report
Gross Receipts Tax Report - Private Bankers (RCT-131)
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.

1310022105

rct-131

OFFICIAL USE ONLY
Date Received (Official Use Only)

Page 1 of 3

08-22 (FI)

groSS receIPtS taX - PrIVate BaNKerS

c

Tax Year Begin:
START

Revenue ID

Federal ID (FEIN)

Parent Corporation (FEIN)

➜

Tax Year End:

12/31/20_ _
Due Date: february 15
Please select correct letter in drop down

Taxpayer Name

Check to Indicate a Change of Address

First Line of Address

Amended Report (Include REV-1175.)
First Report

Second Line of Address
Final Report (See Instructions.)
City

State

ZIP
Out of Existence Date:

Phone
Email

USe whole DollarS oNly

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

Gross Receipts Tax-Private Bankers (Page 2, Line 12)
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.

1310022105

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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rct-131

08-22 (FI)

Page 2 of 3

1310022205

Revenue ID

groSS receIPtS taX - PrIVate BaNKerS

groSS receIPtS froM the followINg SoUrceS:

USe whole DollarS oNly

1. Commissions on loans and various banking services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
2. Discounts on loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
3. Abatements or allowances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
4. Banking charges or fees on depositors accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
5. Rents on real estate owned . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
6. Interest on:
a. Bonds of public and private corporations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
b.

Bonds of states other than the Commonwealth of Pennsylvania . . . . . . . . . . . . . . . . .$

c.

Bonds issued by municipal subdivisions of the Commonwealth of Pennsylvania . . . . . .$

d.

Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$

e.

Mortgages and judgments

f.

Drawing accounts or overdrafts of partners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$

g.

Balances with other banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$

h.

Total interest (Sum of 6a through 6g) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$

i.

Less: amortization of premiums, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$

j.

Total interest less amortization of premiums (6h less 6i)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$

7. Dividends on stocks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
8. Purchases and sales of securities for investment or trading purposes:
a. Profits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
b.

Losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$

c.

Profits less losses on purchases and sales of securities for investment or trading purposes (8a less 8b) . . . . . . .$

9. Rental of safe-deposit boxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
10. Other sources: (Provide details.)
a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
c. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
d. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
e.

Total of other sources (Sum of 10a through 10d)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$

11. Total gross receipts (Sum of Lines 1 through 10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
(Interest on obligations of the U.S. and interest on obligations of the
Commonwealth of Pennsylvania are not taxable.)
12. Tax (Line 11 times tax rate - See Instructions.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$

Page 3 must be completed and included with report.

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rct-131

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1310022305

Revenue ID

groSS receIPtS taX - PrIVate BaNKerS

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

1310022305
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1310022305
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Instructions for RCT-131

Gross Receipts Tax - Private Bankers

RCT-131 (SU) IN 09-23

GENERAL INFORMATION
REMINDER
●
IMPORTANT: Electronic filing of this tax report is
not available. The report should be completed
using the computer-based fill-in form, printed, and submitted by mail to the department. 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, nonyear-specific tax form, completing all sections of
the form. REV-1175, Schedule AR (explanation for
amending), must be included when filing an
amended report.
● 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.
● The penalty imposed for failure to file timely reports is
10 percent on the first $1,000 of determined tax, 5 percent for the next $4,000 of determined tax, and 1 on the
remaining total tax reported or last assessed over
$5,000. Additionally, there is a penalty of $1,000 for late
filing that must be waived upon the actual filing of the
report. Finally, if the annual report is not filed by December 31 there is an additional 10 percent penalty.
● 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.
NOTE: The automatic PA extension provided by
Act 52 of 2013 to those with valid federal extensions DOES NOT apply to this tax.
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-131, Gross Receipts Tax Report – Private
Banker
● Copy of the Report of Condition (Call Report)
● Corporate officer’s signature on Page 1 and preparer’s
signature and PTIN on Page 3, if applicable.
IMPOSITION, BASE AND RATE
Gross receipts tax on every private banker in this commonwealth is imposed at the rate of 1 percent on gross receipts
from commissions, discounts, abatements, allowances, and
all other receipts arising from business.

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
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 February 15 for the preceding year
ended Dec. 31. If February 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 now 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.

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RCT-131
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FIRST REPORT
Enter “Y” in the block on Page 1 if this is the taxpayer’s first
PA private banker tax filing.

PA DEPARTMENT OF REVENUE
PO BOX 280427
HARRISBURG PA 17128-0427

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.

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.

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.

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.

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 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
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-131

CURRENT PERIOD OVERPAYMENT
If an overpayment exists on Page 1 of the RCT-131, the taxpayer must instruct the department to refund or transfer
overpayment as indicated below.

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-131 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-131 should be completed in the following order:
STEP 1
Complete the taxpayer information section and any applicable questions at the top of Page 1.
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STEP 2
Enter the Revenue ID number and other taxpayer information in the designated fields at the top of each page.

d. Enter interest received on loans.
e. Enter interest received on mortgages and judgments.
f. Enter interest received on drawing accounts or overdrafts of partners.

STEP 3
Complete Page 2, Gross Receipts From the Following
Sources.

g. Enter interest received on balances with other banks.

STEP 4
Complete Page 1, Lines 1 through 10.

h. TOTAL INTEREST
Enter the total of Lines 6a through 6g.

STEP 5
Complete the corporate officer information section, sign, and
date at the bottom of Page 1.
STEP 6
Complete the preparer’s information section, sign, and date
at the bottom of Page 3, if applicable.
STEP 7
Mail the completed report and any supporting schedules to
the PA Department of Revenue.

PAGE 2
GROSS RECEIPTS FROM THE FOLLOWING SOURCES

LINE 1
Enter commissions on loans and various banking services.

LINE 2
Enter discounts on loans.

LINE 3
Enter abatements and allowances.

LINE 4
Enter banking charges or fees on depositor’s accounts.

LINE 5
Enter rents on real estate owned.

LINE 6
INTEREST
a. Enter interest received on bonds of public and private
corporations.
b. Enter interest received on bonds of states other than the
Commonwealth of Pennsylvania.
c. Enter interest received on bonds issued by municipal
subdivisions of the Commonwealth of Pennsylvania.

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i. Enter the amortization of premiums.
j. TOTAL INTEREST LESS AMORTIZATION
Enter the difference of Line 6h minus Line 6i.

LINE 7
Enter dividends received on stock.

LINE 8
PURCHASES & SALES OF SECURITIES
a. Enter profits on purchases and sales of securities for
investment or trading purposes.
b. Enter losses on purchases and sales of securities for
investment or trading purposes.
c. PROFITS LESS LOSSES
Enter the difference of Line 8a minus Line 8b.

LINE 9
RENTALS OF SAFE-DEPOSIT BOXES
Enter receipts from rentals of safe-deposit boxes.

LINE 10
OTHER RECEIPTS
Enter receipts from other sources on Lines 10a through 10d.
If additional space is needed, provide a detailed schedule.
Enter the total of all receipts on Line 10e.

LINE 11
TOTAL GROSS RECEIPTS
Enter the total of Lines 1 through 10.
NOTE: Interest on US obligations and interest on PA
obligations is not taxable.

LINE 12
TAX
Multiply Line 11 by 0.01. Carry the tax to RCT-131, Page 1,
Line 1.

RCT-131

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