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Pennsylvania Election Not To Be Taxed as a Pennsylvania S Corporation
Extracted from PDF file 2023-pennsylvania-form-rev-976.pdf, last modified May 2012Election Not To Be Taxed as a Pennsylvania S Corporation
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. (TR) 11-22 REV-976 ELECTION NOT TO BE TAXED AS A PENNSYLVANIA S CORPORATION PA DEPARTMENT OF REVENUE PO BOX 280901 HARRISBURG PA 17128-0901 Corporation is not subject to PA corporate net income tax; election is for PA resident shareholder purposes only. START ➜ Federal Employer Identification Number (FEIN) Pennsylvania Department of State Entity Number Please fill in Corporate Name, Address, City, State and ZIP Code above. Election is for this corporation and its qualified subchapter S subsidiaries as identified on the included schedule showing the names and FEIN or SSN of all subsidiaries. (A) Name and address of each shareholder, member or partner having an interest in the corporation’s stock without regard to the manner in which the stock is owned. If additional space is needed, complete a separate schedule and include it with this form. (B) Social Security Number or Federal Employer Identification Number Election is to be first effective for: Tax year beginning: MMDDYYYY Tax year ending: (C) (D) Percentage of Stock Owned MMDDYYYY We, the undersigned shareholders, consent to the election of the corporation not to be taxed as a Pennsylvania S corporation. You must provide your Social Security number so the department may establish your identity and cross-reference other tax systems, as is authorized under federal law, 42 U.S.C. § 405 (c). Name Street Signature/Date City State ZIP Code Please Sign after printing. Signature/Date MMDDYYYY City State ZIP Code Please Sign after printing. Signature/Date MMDDYYYY City State ZIP Code Please Sign after printing. Signature/Date MMDDYYYY City State ZIP Code Please Sign after printing. Signature/Date MMDDYYYY City State ZIP Code Please Sign after printing. Signature/Date MMDDYYYY City State ZIP Code Please Sign after printing. Signature/Date MMDDYYYY City State ZIP Code Please Sign after printing. Name Street Name Street Name Street Name Street Name Street Name Street Name Street MMDDYYYY Signature/Date City State ZIP Code MMDDYYYY Please Sign after printing. Total = _____ 100% NAME OF CORPORATE OFFICER The corporate statement must be signed by an authorized officer of the corporation. The above-named corporation hereby elects not to be taxed as a Pennsylvania S corporation under Section 401 of the Tax Reform Code of 1971. Á SIGNATURE AND TITLE Under penalties of perjury, I declare that I have examined this Election Not To Be Taxed As A Pennsylvania S Corporation, and to the best of my knowledge and SOCIAL SECURITY NUMBER belief it is true, correct and complete. Reset Entire Form RETURN TO TOP TELEPHONE NUMBER Please Sign after printing. DATE NEXT PAGE MMDDYYYY PRINT FORM Instructions for REV-976 Election Not to be Taxed as a Pennsylvania S Corporation REV-976 IN (TR) 11-22 GENERAL INFORMATION Federal subchapter S corporations are no longer required to file the REV-1640, Pennsylvania S Corporation Election and Shareholders’ Consent, in order to be granted Pennsylvania S corporation status. Effective for tax years beginning after Dec. 31, 2005, any corporation with a valid federal subchapter S corporation election will automatically be a Pennsylvania S corporation. Any federal subchapter S corporation that does not desire to be a Pennsylvania S corporation must file REV-976, Election Not to be Taxed as a Pennsylvania S Corporation, on or before the due date or extended due date of the RCT-101, PA Corporate Net Income Tax Report, for the first tax period in which the election is to be in effect. This election must be signed by 100 percent of the shareholders of the S corporation and once made cannot be revoked for five years. RCT-101 is due 30 days after the federal return. payable to the PA Department of Revenue. The PA40ESR (F/C) form can be downloaded from the department’s website at www.revenue.pa.gov or ordered by telephone at 1-888-PATAXES (728-2937). QUALIFIED SUBCHAPTER S SUBSIDIARIES If a qualified subchapter S subsidiary and/or parent of a qualified subchapter S subsidiary, does not desire to be taxed as a Pennsylvania S corporation, the parent must file REV-976 for itself and all qualified subchapter S subsidiaries. The corporation must include a schedule with the election identifying the name, address and federal employer identification number of each qualified subchapter S subsidiary owned by the corporation and doing business in Pennsylvania. CAUTION: In cases where the taxpayer must file short period federal returns in relation to making the election, the RCT-101 and REV-976 are due on the 30th day following the due date of the applicable federal return. PA RESIDENT SHAREHOLDERS OF SUBCHAPTER S CORPORATIONS IN ANOTHER STATE In the case of a federal subchapter S corporation not required to file RCT-101, does not do business in PA and is not registered to do business in PA, REV-976 must be filed 30 days after the due date of the federal return (the due date of RCT-101 if the corporation is required to file this report). Any federal subchapter S corporation that does not make this election, and which does not do business nor is registered to do business in PA but has a PA resident shareholder, will be taxed as a Pennsylvania S corporation and will be required to file PA-20S/PA-65. In addition, each resident shareholder will be subject to Pennsylvania personal income tax on each shareholder’s pro rata share of the S corporation income, whether distributed or not. NOTE: Subchapter S corporations are only required to file RCT-101 for tax years when they have built-in gains. Any federal subchapter S corporation doing business in Pennsylvania or registered to do business in PA that does not make this election will be taxed as a Pennsylvania S corporation and will be required to file PA-20S/PA-65, PA S Corporation/Partnership Information Return. In addition, each resident shareholder is subject to Pennsylvania personal income tax on each shareholder’s pro rata share of the S corporation income, whether distributed or not. Each nonresident shareholder is subject to tax on the shareholder’s personal income from sources within PA. Filing the RCT-101 is not required unless the corporation has federal taxable built-in gains. Partnership returns and Pennsylvania S corporations with taxable PA-sourced income are jointly liable with their nonresident partners and shareholders for payment of tax on such income to the extent allocable to the nonresidents. Partnerships and S corporations are authorized and required to withhold this tax from its nonresident owners and remit the tax to the PA Department of Revenue. The department accepts through the MeF Fed/State program the electronic payment of the quarterly estimated withholding tax for nonresident owners filed with the PA65ES. Payments may be remitted with the PA-20S/PA-65 ES (P/S) found on the department's website with a check or money order made FILING THE ELECTION For a federal subchapter S corporation conducting business in Pennsylvania that is required to file RCT-101: The due date for filing REV-976 is the due date or the extended due date of RCT-101 for the first year for which the election is to be in effect. For a federal subchapter S corporation that is not required to file RCT-101, (does not do business in PA and is not registered to do business in PA): The due date for filing REV-976 is 30 days after the due date or the extended due date of the federal return. These corporations must check the box indicating “Corporation is not subject to PA Corporate Net Income Tax; election is for PA resident Shareholder purposes only”. The REV-976 must be signed by 100 percent of the shareholders on the date of the election and sent via Fax or Email to: Fax: 717-787-3708 Email: [email protected] DO NOT SEND WITH THE PA CORPORATE NET INCOME TAX REPORT www.revenue.pa.gov REV-976 RETURN TO TOP PRINT FORM PREVIOUS PAGE 1
Election Not To Be Taxed as a Pennsylvania S Corporation (REV-976)
More about the Pennsylvania Form REV-976 Corporate Income Tax TY 2023
We last updated the Election Not To Be Taxed as a Pennsylvania S Corporation in February 2024, so this is the latest version of Form REV-976, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form REV-976 directly from TaxFormFinder. You can print other Pennsylvania tax forms here.
Other Pennsylvania Corporate Income Tax Forms:
TaxFormFinder has an additional 174 Pennsylvania income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form PA-41 | PA Fiduciary Income Tax Return |
| Form PA-40 ES (P/S/F) | PA-40 ES Partnership, PA S Corporation and Fiduciary - Declaration of Estimated Withholding Tax |
| Form RCT-127A | Public Utility Realty Tax Report |
| Form PA-20S-PA-65 | S Corporation/Partnership Information Return (PA-20S/PA-65) |
| Form RCT-900 | Public Utility Realty Report By Local Taxing Authorities |
View all 175 Pennsylvania Income Tax Forms
Form Sources:
Pennsylvania usually releases forms for the current tax year between January and April. We last updated Pennsylvania Form REV-976 from the Department of Revenue in February 2024.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Pennsylvania Form REV-976
We have a total of thirteen past-year versions of Form REV-976 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form REV-976
Election Not To Be Taxed as a Pennsylvania S Corporation (REV-976)
2022 Form REV-976
Election Not To Be Taxed as a Pennsylvania S Corporation (REV-976)
2021 Form REV-976
Election Not To Be Taxed as a Pennsylvania S Corporation (REV-976)
2020 Form REV-976
Election Not To Be Taxed as a Pennsylvania S Corporation (REV-976)
2019 Form REV-976
Election Not To Be Taxed as a Pennsylvania S Corporation (REV-976)
2018 Form REV-976
Election Not To Be Taxed as a Pennsylvania S Corporation (REV-976)
2017 Form REV-976
Election Not To Be Taxed as a Pennsylvania S Corporation (REV-976)
2016 Form REV-976
Election Not To Be Taxed as a Pennsylvania S Corporation (REV-976)
2015 Form REV-976
Election Not To Be Taxed as a Pennsylvania S Corporation (REV-976)
2014 Form REV-976
Election Not To Be Taxed as a Pennsylvania S Corporation (REV-976)
2013 Form REV-976
Election Not To Be Taxed as a Pennsylvania S Corporation (REV-976)
2012 Form REV-976
Election Not To Be Taxed as a Pennsylvania S Corporation (REV-976)
2011 Form REV-976
Election Not To Be Taxed as a Pennsylvania S Corporation (REV-976)
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