For many Pennsylvania seniors, the property tax and rent rebate program has been an important tool in their financial planning. One of the inequities in computing the appropriate rebate has been in the treatment of pension benefits that were fully included in the calculation of income to determine qualification for the rebate. Now, a recently-passed […]
One of the more complex matters facing state budgets is how best to deal with the largess of the federal government’s business incentives included in federal tax legislation. There is probably no area of the federal tax law where this issue is more costly for states than the capital expenditure initiatives included in several recent […]
On May 10, 2018, the Pennsylvania Department of Revenue issued new guidance stating that a corporate taxpayer can calculate its 2007 through 2016 net operating loss (NOL) using the greater of: the flat dollar cap; or the percentage cap. For tax years before 2007, Pennsylvania applies the flat dollar cap. The turnabout in the Commonwealth’s […]
The Pennsylvania Department of Revenue recently released its December 2017/January 2018 newsletter, which highlights tax developments over the past year in the following areas: the sales and use tax treatment and requirements for marketplace sales; important personal income tax filing dates; amnesty penalties; and property tax/rent rebate program applications. See below for details and links […]
All states imposing a sales and use tax regime are struggling to collect taxes due on sales made through the Internet and from out-of-state vendors. Recently the Commonwealth of Pennsylvania enacted legislation that makes several changes to sales and use tax laws in the state. The key changes include requiring certain remote sellers, marketplace facilitators, […]
It is not unusual for state and local governments to provide windows of opportunity for taxpayers to settle outstanding tax liabilities. Often, these programs allow for a reduced settlement, generally through a reduction or elimination of penalties due. While the Commonwealth of Pennsylvania is not one of those states that regularly undertakes such programs, the Department […]
Since the Pennsylvania Department of Revenue (PA DOR) implemented a new technology system several years ago, numerous inaccurate tax notices have been mailed to taxpayers, who have been burdened with the task of resolving the issues. Read the article from the Winter 2017 GYF Perspectives. Contact Alex Palmer or Don Johnston for assistance.
Click here to view the entire SMC Government Newsletter, from which this is excerpted Action Steps Taken by SMC and Members on Priority Issues; Follow-up with the Pennsylvania Department of Revenue (PADoR) As of June 13, SMC and members has taken steps toward a solution for one of our four top priorities – Small business […]
After many years of delay, the capital stock/franchise tax was completely phased out at the end of 2015, positively impacting Pennsylvania businesses. Eliminating this tax will help the state become more competitive in attracting new companies. Read the article from the Spring 2016 GYF Perspectives.
In what is perhaps one of the most dysfunctional budget processes in Pennsylvania history, it now appears that Governor Wolf and the Republican-controlled Congress are finally getting close to resolving the state’s budget impasse. The resolution is coming just in time, as Governor Wolf plans to reintroduce some of his more-acrimonious ideas in his budget […]