PA Clarifies Guidance on Corporate Income Tax NOL Deductions

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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 […]

PA Tax Updates & Reminders

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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 […]

Pennsylvania Enacts Remote Seller Requirements and Other Changes to Sales and Use Tax Rules

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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, […]

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Limited Opportunity for Pennsylvania Tax Amnesty

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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 […]

Incorrect Tax Notices Frustrate Pennsylvania Taxpayers

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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.

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GYF works with SMC to Address Business Issues with the PADoR

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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 […]

PA Capital Stock/Franchise Tax to Disappear in 2016

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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.

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The Commonwealth Moves Closer to a Budget!

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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 […]

Governor Wolf Proposes New PA Budget

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In a move that confirms campaign promises by newly-elected Governor Wolf, on March 3, he proposed a 2015 /2016 budget for the Commonwealth of Pennsylvania. Wolf’s budget sets out the foundation of a $3 billion plan to force what he labels “bold change.” The mix of tax initiatives in the proposal include some interesting “tradeoffs” […]