Pennsylvania Net Income Tax Report

Net Income Tax Report
Net Income Tax Report - Mutual Thrift Institutions (RCT-143)
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1430022105

rct-143

OFFICIAL USE ONLY
Date Received (Official Use Only)

Page 1 of 4

08-22 (FI)

Net INcoMe taX rePort
MUtUaL tHrIft INStItUtIoNS
START

Revenue ID

Federal ID (FEIN)

c

Tax Year Begin:

Parent Corporation (FEIN)

Tax Year End:

➜

Due Date: (See Instructions)
Please select correct letter in drop down
Check to Indicate a Change of Address

Taxpayer Name

Amended Report (Include REV-1175.)
First Report
KOZ
Registered as:
State S&L or Savings Bank = A
Federal S&L or Savings Bank = B

First Line of Address
Second Line of Address
City

State

ZIP

Phone

Final Report (See Instructions.)

Email

Out of Existence Date:

USe wHoLe DoLLarS oNLy

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

Mutual Thrift Institutions Net Income Tax (Page 2, Line 13)
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.

1430022105

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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1430022205

rct-143

08-22 (FI)

Revenue ID

Page 2 of 4

caLcULatIoN of Net INcoMe taX

USe wHoLe DoLLarS oNLy

1.

Income from Financial Statements (Income Statement or Report of Condition)

c

1.

Deductions
2.
3.
4.

Interest from U.S. Obligations (Attach Schedule.)
Interest from PA Obligations (Attach Schedule.)
Total Deductions (Line 2 plus Line 3)

2.
3.
4.

additions
5.
6.
7.
8.
9.
10.
11.
12.
13.

Interest Expense Allocable to Tax-Exempt Income (From Schedule B, Line 5)
Employment Incentive Payment Credit
Total Additions (Line 5 plus Line 6)
Income to be Apportioned to PA (Line 1 minus Line 4 plus Line 7)
Apportionment (From Schedule C, Line 16)
Income Apportioned to PA (Line 8 times Line 9)
Net Loss Deduction (from Schedule A, Column D total)
Taxable Income (Line 10 minus Line 11)
Tax (Line 12 times tax rate – See Instructions.)

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

Preparer’s Information:

1430022205

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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rct-143

08-22 (FI)

Page 3 of 4

1430022305

Revenue ID

Schedule a – Net Loss carry forward
(a)
Tax Year Beginning

(B)
Tax Year Ending

(c)
Net Loss Carry Forward to
Current Period

(D)
Amount Deducted

(e)
Net Loss Carry Forward to
Next Period

Total Column D

Schedule B – Interest expense allocable to tax-exempt Income
1. Total Tax-Exempt Income (From Page 2, Line 4).................................................................1.
2. Total Interest Income for Year..........................................................................................2.
3. Line 1 divided by Line 2 ..................................................................................................3.
4. Total Interest Expense ....................................................................................................4.
5. Interest Expense Allocable to Tax Exempt Income (Multiply Line 3 by Line 4,
Carry to Page 2, Line 5)..................................................................................................5.

Schedule c – apportionment Summary
calculation of Net Income tax apportionment
6. Payroll Inside PA (From Schedule D, Line 1a).....................................................................6.
7. Total Payroll (From Schedule D, Line 1b) ...........................................................................7.
8. Payroll Factor (Line 6 divided by Line 7)...........................................................................8.
9. Receipts Inside PA (From Schedule D, Line 11a).................................................................9.
10. Total Receipts (From Schedule D, Line 11b) .....................................................................10.
11. Receipts Factor (Line 9 divided by Line 10) ......................................................................11.
12. Average Deposits Inside PA (From Schedule D, Line 17a) ..................................................12.
13. Average Total Deposits (From Schedule D, Line 17b).........................................................13.
14. Deposits Factor (Line 12 divided by Line 13) ....................................................................14.
15. Total of Proportions (Line 8 plus Line 11 plus Line 14).......................................................15.
16. Apportionment Factor (See Instructions.) ........................................................................16.

1430022305
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1430022405

Revenue ID

Schedule D – apportionment
Payroll factor

INSIDE PENNSYLVANIA

1. Wages, Salaries, Commissions and other
Compensation to Employees .....................................

EVERYWHERE

1a.

1b.

2. Receipts from Loans ................................................ 2a.

2b.

3. Receipts from Performance of Services....................... 3a.

3b.

4. Receipts from Lease Transactions .............................. 4a.

4b.

5. Interest and Fees from Credit Card Transactions ......... 5a.

5b.

6. Interest, Dividends and Net Gains on Intangibles ........ 6a.

6b.

7. Fees or Charges from Traveler's Checks or
Money Orders ......................................................... 7a.

7b.

8. Receipts from Sale of Tangible Property...................... 8a.

8b.

9. Receipts from Issuance of Insurance.......................... 9a.

9b.

10. Other Receipts ........................................................ 10a.

10b.

11. Total Receipts (Sum of Line 2 through Line 10) ........... 11a.

11b.

receipts factor

Deposits factor
12. 1st Quarter............................................................. 12a.

12b.

13. 2nd Quarter............................................................ 13a.

13b.

14. 3rd Quarter ............................................................ 14a.

14b.

15. 4th Quarter ............................................................ 15a.

15b.

16. Total (Sum of Line 12 through Line 15) ...................... 16a.

16b.

17. Average Value......................................................... 17a.

17b.

1430022405
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Instructions for RCT-143

RCT-143 (SU) IN 08-22

Net Income Tax Report - Mutual Thrift Institutions
reorganization for purposes of section 368 of the
Internal Revenue Code of 1986) or a similar successor provision that is accounted for under the
purchase accounting method.

GENERAL INFORMATION
REMINDER
● The RCT-143 can now be filed electronically at
mypath.pa.gov.
● 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.
● One estimated payment coupon, REV-423, and one extension coupon, REV-426, will be used for all specialty
taxes. These coupons are available on the department's
website at www.revenue.pa.gov. The REV-423 and
REV-426 can be filed electronically through
myPATH at mypath.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.
● 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.
● RCT-143 is available as a fill-in form on the department’s website at www.revenue.pa.gov. 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.
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-143, Mutual Thrift Tax Report
● Attachments to be included with report:
Reports of condition filed for each quarter for taxpay° ers
who meet the following conditions.
● The taxpayer is filing mutual thrift institutions net
income tax report for a year ending Dec. 31.
● The taxpayer files reports of condition on a separate company basis.
● The taxpayer did not enter into a business combination after Dec. 31, 1986, (which is treated as
www.revenue.pa.gov

°

Include the following for taxpayers not meeting the
above conditions:
● An income statement for the year being reported,
prepared on a separate company basis. If the taxpayer entered into a business combination after
Dec. 31, 1986, (which is treated as reorganization
for purposes of section 368 of the Internal Revenue
Code of 1986) or a similar successor provision,
net income or net loss must be determined by
accounting for the acquisition under the pooling of
interest method.
● Balance sheets prepared on a separate company
basis reporting the asset, liability and equity accounts as of the beginning of the year and the last
day of the third, sixth, ninth and twelfth month of
the tax year.
● A reconciliation of the beginning and ending balances of the equity accounts

°

A schedule identifying the names and interest
amounts from U.S. and Pennsylvania obligations.

● Corporate officer’s signature on Page 1 and preparer’s
signature and PTIN on Page 2, if applicable.
IMPOSITION, BASE AND RATE
Mutual thrift institutions tax is imposed at the rate of 11.5
percent on net taxable income of mutual thrift institutions in
Pennsylvania, including savings banks without capital stock,
building and loan associations, savings and loan associations and savings institutions having capital stock. Mutual
thrift institutions are exempt from all other Pennsylvania
corporate taxes and local taxes except taxes on real estate
and real estate transfers. For more information, see Section
1502 of the Tax Reform Code of 1971 (72 P.S.§ 8502).
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
Enter month, day and year (MMDDYYYY) for the tax year
beginning and tax year end.
RCT-143

1

REPORT DUE DATE
The annual report for calendar year institutions is due April
15 for the preceding year ended Dec. 31. An institution
operating on a fiscal year end must file the report within 105
days of the close of the fiscal year. If April 15 or the 105th
day following the close of the fiscal year 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.
FIRST REPORT
Enter “Y” in the block on Page 1 if this is the taxpayer’s first
PA mutual thrift tax filing.
KOZ/KOEZ CREDIT
Enter “Y” in the block on Page 1 if the corporate taxpayer
is claiming the Keystone Opportunity Zone Credit or 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 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).
2

RCT-143

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.
ESTIMATED PAYMENT INSTRUCTIONS
All accounts are expected to remit estimated prepayments
toward the final liability a corporation estimates is due for the
taxable year. Estimated payments for mutual thrift institutions tax are due on the 15th day of the third, sixth, ninth and
twelfth month following the close of the tax year. Tax remaining due at the close of the taxable year must be paid by the
15th day of the fourth month following the close of the tax
year.
Mail the estimated payment coupon, REV-423, separately
from all other forms.
If you have questions regarding estimated payments, email
the department at [email protected].
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

ble questions at the top of Page 1.
STEP 2
Indicate the type bank on Page 1 - State Savings & Loan or
Savings Bank or Federal Savings & Loan or Savings Bank.
This must match the company’s registration with PA Department of Banking. This information is required.

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.

STEP 3
Enter the Revenue ID number and other taxpayer information in the designated fields at the top of each page.

CURRENT PERIOD OVERPAYMENT
If an overpayment exists on Page 1 of the RCT-143, the taxpayer must instruct the department to refund or transfer
overpayment as indicated below.

STEP 4
Complete Page 2, Lines 1 through 4 (Income and Deductions).

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 5
Complete Page 3, Schedule B (Interest Expense).
STEP 6
Complete Page 4, Schedule D (Apportionment).
STEP 7
Complete Page 3, Schedule C (Apportionment Summary).

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

STEP 8
Complete Page 2, Lines 5 through 10 (Additions and Apportioned Income).

NOTE: If no option is selected, the department will
automatically transfer any overpayment to the next tax
year for estimated tax purposes after offsetting current
period liabilities and other unpaid liabilities within the account.

STEP 10
Complete Page 2, Lines 11 through 13. (Calculate Tax).

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-143 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].
● General business tax questions, visit the department's Online Customer Service Center at www.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-143 should be completed in the following order:
(Page instructions start with Page 2 below.)
STEP 1
Complete the taxpayer information section and any applicawww.revenue.pa.gov

STEP 9
Complete Page 3, Schedule A (Net Loss Carry Forward).

STEP 11
Complete Page 1, Lines 1 through 10.
STEP 12
Complete the corporate officer information section, sign and
date at the bottom of Page 1.
STEP 13
Complete the preparer information section, sign and date at
the bottom of Page 2, if applicable.
STEP 14
Mail the completed report and any supporting schedules to
the PA Department of Revenue.

PAGE 2
CALCULATION OF NET INCOME AND DEDUCTIONS

LINE 1
INCOME FROM FINANCIAL STATEMENTS
Enter the net income or loss reported on the Separate Company Income Statement or Report of Condition. (Must be
attached.)

LINE 2
INTEREST FROM U.S. OBLIGATIONS
Enter the interest from U.S. obligations. Provide a schedule
identifying the name, Committee on Uniform Securities Identification Procedures (CUSIP) number and interest amount
for each U.S. obligation.
RCT-143

3

For more information on the CUSIP number refer to the SEC
website at www.sec.gov or the CUSIP Global Services
website at www.cusip.com.

LINE 3
INTEREST FROM PA OBLIGATIONS
IEnter the interest from PA obligations. Provide a schedule
identifying the name, CUSIP number and interest amount
for each PA obligation.

LINE 4
TOTAL DEDUCTIONS
Enter the sum of Lines 2 and 3. This is the tax-exempt
income. Carry the figure to Page 3, Schedule B, Line 1.

PAGE 3
SCHEDULE B - INTEREST EXPENSE ALLOCABLE TO
TAX-EXEMPT INCOME

LINE 1
TOTAL TAX-EXEMPT INCOME
Enter the total from Page 2, Line 4.

LINE 2
TOTAL INTEREST INCOME FOR YEAR
Enter the total interest income. A detailed schedule must be
provided.

LINE 3
Enter the product of Line 1 divided by Line 2. Carry to six
decimal places.

LINE 4
TOTAL INTEREST EXPENSE
Enter the total interest expense. A detailed schedule must
be provided.

LINE 5
INTEREST EXPENSE ALLOCABLE TO TAX-EXEMPT
INCOME
Multiply Line 3 by Line 4. Carry the figure to Page 2, Line 5.

PAGE 4
SCHEDULE D - APPORTIONMENT
WHO MAY APPORTION?
A financial institution may apportion its taxable shares or
net income 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.
HOW IS THE APPORTIONMENT FRACTION
CALCULATED?
The apportionment percentage is an average of payroll,
receipts and deposits.
4

RCT-143

PAYROLL FACTOR

LINE 1
The numerator (a) is total wages paid in Pennsylvania and
the denominator (b) is the total wages paid in all states.
Wages are paid in a state if paid to an employee having
regular presence therein.
RECEIPTS FACTOR
The numerator (a) is total receipts in Pennsylvania and the
denominator (b) is the total receipts in all states. Receipts do
not include principal repayments on loans or credit, or travel
or entertainment cards. Receipts from the sale or disposition
of property include only the net gain from the sale.
DETERMINE THE LOCATION OF RECEIPTS
AS FOLLOWS

LINE 2
Receipts from loans are located at the place of origin.
Receipts from loans primarily secured by real property are
assigned to the state in which the predominant portion of
such property is located, if the institution has an office in that
state at which application, negotiation, approval or administrative responsibility occurs. Receipts from all other loans
are assigned to the state of residency or commercial domicile of the borrower, if the institution has an office in that state
at which application, negotiation, approval or administrative
responsibility occurs. Otherwise, receipts from loans are
assigned to the state where the office is located that treats
the loan as an asset on its books or records.

LINE 3
A receipt from performance of services is located in the state
where the services are performed. If services are performed
in more than one state, the receipts located in each state
must be measured by the ratio of time spent performing such
services in one state to the total time spent performing services in all states. The time spent performing services in a
state is the time spent by employees having a regular presence in the state performing such services.

LINE 4
Receipts from lease transactions are located in the state
where the leased property is located.

LINE 5
Interest or service charges – excluding merchant discounts
from credit, travel and entertainment card receivables and
credit card holders’ fees – are located in the state where the
credit card holder resides. If the taxpayer is a corporation
maintaining a commercial domicile, such charges are in the
state of the card holder’s commercial domicile. Otherwise,
receipts are located in the state where the institution maintains an office that treats such receivables as assets on its
books or records.

LINE 6
Interest, dividends and net gains from the sale or disposition
of intangibles, excluding receipts described elsewhere in this
section, are located in the state where the institution
www.revenue.pa.gov

maintains an office that treats such intangibles as assets on
its books or records.

LINE 7
Traveler’s checks and money order fees or charges are
located in the state where the traveler’s checks or money
orders are issued.

LINE 8
Receipts from sales of tangible property are located in the
state where the property is delivered or shipped, regardless
of the free on board (FOB) point or other condition of sale.

LINE 9

PAGE 3
SCHEDULE C - APPORTIONMENT SUMMARY
Calculation of Net Income Tax Apportionment

LINE 6
PAYROLL INSIDE PA
Enter the figure from Page 4, Schedule D, Line 1a.

LINE 7
TOTAL PAYROLL
Enter the figure from Page 4, Schedule D, Line 1b.

Receipts from the issuance of title insurance are located in
the state where the insured property is located.

LINE 10
All receipts not specifically addressed above are located in
the state where the greatest portion of income-producing
activity is performed, based on costs of performance.

LINE 11
Enter total receipts (sum of Lines 2 through 10, Columns a
and b).

LINE 8
PAYROLL FACTOR
Enter the product of Line 6 divided by Line 7. Carry to six
decimal places.

LINE 9
RECEIPTS INSIDE PA
Enter the figure from Page 4, Schedule D, Line 11a.

LINE 10

DEPOSITS FACTOR

LINES 12 THROUGH LINE 17
The numerator (a) is the average value of deposits in Pennsylvania during the taxable year, and the denominator (b) is
the average value of total deposits during the taxable year.
The average value of deposits is to be calculated on a quarterly basis. Deposits are located in the state where the institution maintains an office that treats the deposits as a liability
on its books or records. A deposit is considered properly
treated as a liability on the books or records of the office with
which it has a greater portion of contact. In determining
whether a deposit has a greater portion of contact with a
particular office, consideration is given to the following:
● Whether the deposit account was opened at or transferred to that office by or at the direction of the depositor,
regardless of where subsequent deposits or withdrawals
are made
● Whether employees regularly connected with that office
are primarily responsible for servicing the depositor’s
general banking and other financial needs
● Whether the deposit was solicited by an employee regularly connected with that office, regardless of where
such deposit was actually solicited
● Whether the terms governing the deposit were negotiated by employees regularly connected with that office,
regardless of where the negotiations were actually
conducted
● Whether essential records relating to the deposit are
kept at that office and whether the deposit is serviced at
that office.
www.revenue.pa.gov

TOTAL RECEIPTS
Enter the figure from Page 4, Schedule D, Line 11b.

LINE 11
RECEIPTS FACTOR
Enter the product of Line 9 divided by Line 10. Carry to six
decimal places.

LINE 12
AVERAGE DEPOSITS INSIDE PA
Enter the figure from Page 4, Schedule D, Line 17a.

LINE 13
AVERAGE TOTAL DEPOSITS
Enter the figure from Page 4, Schedule D, Line 17b.

LINE 14
DEPOSITS FACTOR
Enter the product of Line 12 divided by Line 13. Carry to six
decimal places.

LINE 15
TOTAL OF PROPORTIONS
Enter the total of Lines 8, 11 and 14. Carry to six decimal
places.
RCT-143

5

LINE 16

LINE 12

APPORTIONMENT FACTOR
The apportionment factor is defined by the number of factors
present. A factor is ignored if both the numerator and denominator are zero. Divide Line 15 by 3 if all three proportions apply, divide by 2 if only two proportions apply or divide
by 1 if only one proportion applies. Carry to six decimal
places. Carry the figure to Page 2, Line 9.

TAXABLE INCOME
Enter the difference of Line 10 minus Line 11. This amount
cannot be a negative number.

PAGE 2
CALCULATION OF ADDITIONS AND APPORTIONED
INCOME

LINE 5
INTEREST EXPENSE ALLOCABLE TO TAX-EXEMPT
INCOME
Enter the figure from Page 3, Schedule B, Line 5.

LINE 6
EMPLOYMENT INCENTIVE PAYMENT CREDIT
Enter the amount of credit earned.

LINE 7
TOTAL ADDITIONS
Enter the total of Lines 5 and 6.

LINE 8
INCOME TO BE APPORTIONED TO PA
Enter the total of Line 1 minus Line 4 plus Line 7.

LINE 9
APPORTIONMENT
Enter the apportionment factor from Page 3, Schedule C,
Line 16. Carry to six decimal places.

LINE 10
INCOME APPORTIONED TO PA
Multiply Line 8 by Line 9. If negative, this will be your net
loss carry forward for the current tax period. Enter the applicable information on Page 3, Schedule A and enter zeros on
Lines 11, 12 and 13. If positive, continue completing Lines 11,
12 and 13.

LINE 13
TAX
Multiply Line 12 by 0.115. Carry to RCT-143 Page 1, Line 1.

PAGE 3
SCHEDULE A
NET LOSS CARRY FORWARD
The net loss generated in a given period may only be carried
forward three consecutive tax periods. Enter the net losses
from the preceding three tax periods, starting with the earliest period. If a negative figure was calculated on Page 2,
Line 10, also enter the current period net loss.

COLUMN A
Enter the tax period beginning.

COLUMN B
Enter the tax period ending.

COLUMN C
Enter the net loss carry forward.

COLUMN D
If a positive figure is calculated on Page 2, Line 10 for the
current tax period, enter the amount to be used as a net loss
deduction to offset income. The total amount to deduct
should not exceed the amount reported on Page 2, Line 10.

COLUMN E
Enter the difference of Column C minus Column D. The final
three tax periods is the net loss carry forward for the next
tax period.

LINE 11
NET LOSS DEDUCTION
Enter the figure from Page 3, Schedule A, Total Column D.

6

RCT-143

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