Pennsylvania PA Title Insurance Company Shares Tax Report

PA Title Insurance Company Shares Tax Report
Pennsylvania Title Insurance Company Shares Tax Report (RCT-132A)
IMPORTANT: FILL IN FORM MUST BE DOWNLOADED FIRST PRIOR TO COMPLETING
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rct-132A

OFFICIAL USE ONLY
06-24 (I)

Date Received (Official Use Only)

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PeNNSYLVANIA tItLe INSUrANce coMPANY
SHAreS tAX rePort
START

Federal ID (FEIN)

c

Parent Corporation (FEIN)

➜

Shares Tax:

01/01/20_ _
Due Date: March 15
Please select correct letter in drop down
Check to Indicate a Change of Address
Amended Report (Include REV-1175.)
First Report
KOZ

Taxpayer Name
First Line of Address
Second Line of Address

Final Report (See Instructions.)
City

State

ZIP
Out of Existence Date:

Phone
Email

USe wHoLe DoLLArS oNLY

1a.
1b.
1c.
2.
3.
4.
5.
6.

Shares Tax (Page 2, Line 11)
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.)

1a.
1b.
1c.

7.
8.
9.
10.

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)

7.

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

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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

MMDDYYYY

Signature of Officer – Please sign after printing

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rct-132A

06-24 (I)

FEIN

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Lines 9 and 14 should be 1.000000 or less.

USe wHoLe DoLLArS oNLY

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calculation of Shares tax
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.

Current Year Value of Shares (Schedule A, Line 31)
First Prior Year Value of Shares
Second Prior Year Value of Shares
Third Prior Year Value of Shares
Fourth Prior Year Value of Shares
Fifth Prior Year Value of Shares
Sum of Value of Shares (Total Line 1 through Line 6)
Taxable Shares (Line 7 divided by 6 or number of years in existence if less than 6)
Shares Tax Apportionment (Line 14 below)
Total Amount of Shares Subject to Tax (Line 8 times Line 9)
Tax (Line 10 times tax rate – See Instructions.)

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

calculation of Shares tax Apportionment
12.
13.
14.

Total Receipts Inside PA (Line 17a below)
Total Receipts Everywhere (Line 17b below)
Receipts Factor (Line 12 divided by Line 13; carry to 6 decimal places)

12.
13.
14.

INSIDe PeNNSYLVANIA

eVerYwHere

receipts factor
15.
16.
17.

Receipts from Issuance of Title Insurance
Other Receipts (Attach schedule.)
Total Receipts (Line 15 plus Line 16)

15a.

15b.

16a.

16b.

17a.

17b.

Mergers (Complete only if applicable.)
Non-surviving entity

Date combined

feIN

1.
2.
3.

(Attach schedule if additional space is needed.)

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Preparer’s Information:
Individual Preparer Name
Phone
Email
Social Security Number
or PTIN

Firm Name
Firm FEIN
Address
City
State
ZIP

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 MMDDYYYY
Signature of Preparer – Please sign after printing

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rct-132A

06-24 (I)

FEIN

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ScHeDULe A – calculation of current Year – taxable Shares

c

1st Quarter
1.
2.
3.
4.
5.
6.
7.

Book Value of Capital Stock Paid In
Book Value of Surplus
Book Value of Undivided Profits
Book Value of Unearned Premium Reserve
Total (Line 1+2+3+4)
Book Value of U. S. Obligations
Quarterly Book Value (Line 5 minus Line 6)

2nd Quarter
8.

Book Value of Capital Stock Paid In

9.
10.
11.
12.
13.
14.

Book Value of Surplus
Book Value of Undivided Profits
Book Value of Unearned Premium Reserve
Total (Line 8+9+10+11)
Book Value of U. S. Obligations
Quarterly Book Value (Line 12 minus Line 13)

3rd Quarter
15. Book Value of Capital Stock Paid In
16.
17.
18.
19.
20.

Book Value of Surplus
Book Value of Undivided Profits
Book Value of Unearned Premium Reserve
Total (Line 15+16+17+18)
Book Value of U. S. Obligations

21. Quarterly Book Value (Line 19 minus Line 20)

4th Quarter
22.
23.
24.
25.
26.
27.
28.

Book Value of Capital Stock Paid In
Book Value of Surplus
Book Value of Undivided Profits
Book Value of Unearned Premium Reserve
Total (Line 22+23+24+25)
Book Value of U. S. Obligations
Quarterly Book Value (Line 26 minus Line 27)

cALcULAtIoN
29. Number of Quarters in Existence for Current Tax Year
30. Total Book Value (Line 7+14+21+28)
31. Current Year Value of Shares (Line 30 divided by Line 29)
Carry the amount on Line 31 to Page 2, Line 1.

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

8.
9.
10.
11.
12.
13.
14.

15.
16.
17.
18.
19.
20.
21.

22.
23.
24.
25.
26.
27.
28.

29.
30.
31.

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Instructions for RCT-132A

Pennsylvania Title Insurance Company - Shares Tax Report

RCT-132A (SU) IN 06-24

GENERAL INFORMATION
REMINDER
● The RCT-132A can now be filed electronically at
mypath.pa.gov.
● 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.
● RCT-132A is used to report Pennsylvania title insurance
company shares tax. This form is ONLY to be used by
Pennsylvania title insurance companies to report shares
tax for Jan. 1, 2015 and forward.
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
revenue.pa.gov.
● Use only whole dollars when preparing tax reports.
● Fill in form using all CAPS.
● Do not use dashes (-) or slashes (/) in any field.
● 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.
● 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.
● 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.
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-132A, Pennsylvania Title Insurance
Companies Shares Tax Report
● Copy of the annual federal tax return as filed with the
federal government
● Copy of quarterly balance sheets (or pro forma) based
on generally accepted accounting principles
● Copy of schedules for U.S. Obligations claimed on the
tax report

● Schedule of combined shares for insurance companies
that have merged during the tax period
● 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 1.25 percent on taxable
shares of domestic title insurance companies located in
Pennsylvania and having capital stock.
Loans tax has been repealed for tax periods beginning after
Dec. 31, 2013. Do not complete Line 1b on Page 1.
FEDERAL EMPLOYER IDENTIFICATION NUMBER
(FEIN), PARENT CORPORATION FEIN, NAME, AND
ADDRESS
The 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
For shares tax enter the year (YY) of the spot tax.
REPORT DUE DATE
This report is due on March 15th 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.

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When filing an amended report, record the amended tax
liability on Page 1.
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.
KOZ CREDIT
Enter “Y” in the block on Page 1 if the corporate taxpayer
is claiming the Keystone Opportunity Zone Credit, the Keystone Opportunity Expansion Zone Credit.
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 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 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:
2

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:
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-132A, 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-132A and written correspondence.

CONTACT INFORMATION
● For additional information regarding electronic payments
or general business tax questions visit the department’s
Online Customer Service Center at revenue.pa.gov.
● Questions regarding payments or refunds, email
[email protected].
● Business taxpayers and tax practitioners have the ability
to receive and view department issued electronic
statement of accounts and correspondence
electronically at mypath.pa.gov.

RCT-132A

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LINE INSTRUCTIONS
RCT-132A should be completed in the following order:
(Page instructions start with Page 3 below.)

LINE 2
Book Value of the Surplus

LINE 3

STEP 1
Complete the taxpayer information and any applicable questions at the top of Page 1.

Book Value of Undivided Profits

STEP 2
Enter the FEIN in the designated field at the top of each
page.

Book Value of Unearned Premium Reserve

STEP 3
Complete Page 3, Schedule A, Calculation of Current Year
– Taxable Shares.

LINE 4
LINE 5
Total (Line 1 plus Line 2 plus Line 3 plus Line 4)

LINE 6

STEP 4
Complete Page 2, Receipts Factor (Lines 15 through 17).

Book Value of U.S. Obligations (see B above)

STEP 5
Complete Page 2, Calculation of Shares Tax Apportionment
(Lines 12 through 14).

Quarterly Book Value (Line 5 minus Line 6)

STEP 6
Complete Page 2, Calculation of Shares Tax (Lines 1
through 11).
STEP 7
Complete Page 1, Lines 1 through 10.

LINE 7

SECOND QUARTER

LINE 8
Book Value of Capital Stock Paid In (see A above)

LINE 9

STEP 8
Complete the corporate officer information section, sign, and
date at the bottom of Page 1.

Book Value of the Surplus

STEP 9
Complete the preparer information section, sign, and date
at the bottom of Page 2, if applicable.

Book Value of Undivided Profits

STEP 10
File the complete report and any supporting schedules at
mypath.pa.gov.

Book Value of Unearned Premium Reserve

PAGE 3
SCHEDULE A
CALCULATION OF CURRENT YEAR - TAXABLE SHARES
A. For title insurance companies that do not file reports of
condition, book values are based on average book values at the end of each calendar quarter under generally
accepted accounting principles.
B. Submit a schedule identifying U.S. obligations by names
and amounts claimed for each 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.

LINE 10
LINE 11
LINE 12
Total (Line 8 plus Line 9 plus Line 10 plus Line 11)

LINE 13
Book Value of U.S. Obligations (see B above)

LINE 14
Quarterly Book Value (Line 12 minus Line 13)
THIRD QUARTER

LINE 15
Book Value of Capital Stock Paid In (see A above)

LINE 16
Book Value of the Surplus

FIRST QUARTER

LINE 1
Book Value of Capital Stock Paid In (see A above)

LINE 17
Book Value of Undivided Profits

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LINE 18
Book Value of Unearned Premium Reserve

LINE 19
Total (Line 15 plus Line 16 plus Line 17 plus Line 18)

LINE 20
Book Value of U.S. Obligations (see B above)

LINE 21
Quarterly Book Value (Line 19 minus Line 20)
FOURTH QUARTER

DETERMINE THE LOCATION OF RECEIPTS AS
FOLLOWS
Receipts from the issuance of title insurance shall be located
in the state in which the real property insured is located.
RECEIPTS FACTOR
The numerator is total receipts in Pennsylvania and the
denominator is the total receipts in all states.

LINE 15
LINE 22

Book Value of Capital Stock Paid In (see A above)

LINE 23
Book Value of the Surplus

LINE 24
Book Value of Undivided Profits

LINE 25
Book Value of Unearned Premium Reserve

LINE 26
Total (Line 22 plus Line 23 plus Line 24 plus Line 25)

LINE 27
Book Value of U.S. Obligations (see B above)

LINE 28
Quarterly Book Value (Line 26 minus Line 27)

RECEIPTS FROM ISSUANCE OF TITLE INSURANCE
15a. Enter receipts Inside PA.
15b. Enter receipts Everywhere.

LINE 16
OTHER RECEIPTS (detailed schedule MUST be attached)
16a. Enter receipts Inside PA.
16b. Enter receipts Everywhere.

LINE 17
TOTAL RECEIPTS
17a. Total receipts Inside PA; add Line 15a plus Line 16a.
17b. Total receipts Everywhere; add Line 15b plus Line 16b.

CALCULATION OF SHARES TAX APPORTIONMENT

LINE 12
Total receipts Inside PA; carry the figure from Line 17a

LINE 13
Total receipts Everywhere; carry the figure from Line 17b

CALCULATION

LINE 29
Number of Quarters in Existence for Current Tax Year

LINE 30
Total Book Value (Line 7 plus Line 14 plus Line 21 plus Line
28)

LINE 31
Current Year Value of Shares (Line 30 divided by Line 29);
carry this amount to Page 2, Line 1.
PENNSYLVANIA TITLE INSURANCE COMPANY
INSTRUCTIONS FOR APPORTIONMENT

PAGE 2
RECEIPTS FACTOR
4

WHO MAY APPORTION?
A title insurance company may apportion its taxable shares
or net income if the insurance company 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 14
Receipts Factor (Line 12 divided by Line 13); carry to six
decimal places
CALCULATION OF SHARES TAX
Taxable shares equal the total shares for the current year
plus each of the preceding five years, divided by 6. An entity
in existence fewer than six years must total the shares for
each of the years in existence and divide by that number of
years. A partial year of existence is considered a full year.
The value of shares for a partial year is determined by
adding the book values for each report of condition filed or
calendar quarter in existence and dividing the sum by the
number of reports or quarters.

LINE 1
Current Year Value of Shares (from Page 3, Schedule A,
Line 31)

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LINE 2
First Prior Year Value of Shares

LINE 3
Second Prior Year Value of Shares

LINE 4
Third Prior Year Value of Shares

LINE 5
Fourth Prior Year Value of Shares

LINE 6
Fifth Prior Year Value of Shares

LINE 7
Sum of Value of Shares (total of Line 1 through Line 6)

LINE 8
Taxable Shares (Line 7 divided by 6 or the number of years
in existence, if less than 6)

LINE 9
Shares Tax Apportionment (Line 14 - Receipts Factor); carry
to six decimal places.

LINE 10
Total Amount of Shares Subject to Tax (Line 8 times Line 9)

LINE 11
Tax (Multiply Line 10 by 1.25 percent (0.0125). Carry the tax
to RCT-132A, Page 1, Line 1a.
If the taxpayer is the survivor of a merger of one or more
insurance companies, the History of Shares would include
the sum of the prior year value of shares of each insurance
company.

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