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Pennsylvania Free Printable Pennsylvania Bank and Trust Company Shares Tax Report (RCT-132 B) for 2024 Pennsylvania PA Bank and Trust Company Shares Tax Report

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PA Bank and Trust Company Shares Tax Report
Pennsylvania Bank and Trust Company Shares Tax Report (RCT-132 B)

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. USE WHOLE DOLLARS ONLY. 1322022105 OFFICIAL USE ONLY rCT-132 B 08-22 (FI) Page 1 of 5 Date Received (Official Use Only) PennSylVanIa BanK and TrUST CoMPany ShareS TaX rePorT START Revenue ID Federal ID (FEIN) Shares Tax: due date: March 15 Parent Corporation (FEIN) ➜ C 01/01/20_ _ Please select correct letter in drop down Check to Indicate a Change of Address Amended Report (Include REV-1175.) First Report Assigned/Purchased Restricted Credits Taxpayer Name First Line of Address Final Report (See Instructions.) Second Line of Address Out of Existence Date: State City ZIP Indicate Type of Bank (required): National Bank = A, State Bank = B, Trust Company = C Phone Email USe whole dollarS only 1a. 1b. 1c. 2. 3. 4. 5. 6. 7. 8. 9. 10. Shares Tax (Page 2, Line 13) 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.) 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) 1a. 1b. 1c. 2. 3. 4. 5. 6. 7. 8. 9. 10. 1322022105 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 Reset Entire Form RETURN TO TOP NEXT PAGE PRINT FORM FILL IN FORM USING ALL CAPS.DO NOT USE DASHES (-) OR SLASHES (/) IN ANY FIELD. ENTER DATES AS MMDDYYYY. USE WHOLE DOLLARS ONLY. 1322022205 Revenue ID rCT-132 B 08-22 (FI) Page 2 of 5 Lines 7, 11 and 16 should be 1.000000 or less. USe whole dollarS only C Calculation of end of year Taxable Shares 1. 2. 3. 4. 5. 6. 7. 8. 9. Total Bank Equity Capital (If applicable, use Adjusted Total Bank Equity from Page 5, Item D.) Total Assets Goodwill (See Instructions.) (Attach schedule.) Net Bank Equity (Line 1 minus Line 3) Net Assets (Line 2 minus Line 3) U. S. Obligations (Attach schedule.) Divide Line 6 by Line 5 (Carry to 6 decimal places) Deduction for U. S. Obligations (Multiply Line 4 by Line 7) Current End of Year Value of Shares (Subtract Line 8 from Line 4) 1. 2. 3. 4. 5. 6. 7. 8. 9. Calculation of Shares Tax 10. 11. 12. 13. Current End of Year Value of Shares (Line 9 above) Shares Tax Apportionment (Line 16 below) Total Amount of Shares Subject to Tax (Line 10 times Line 11) Tax (Line 12 times tax rate – See Instructions.) 10. 11. 12. 13. Calculation of Shares Tax apportionment 14. 15. 16. Total Receipts Inside PA (From Page 3, Schedule A, Line 16a) Total Receipts Everywhere (From Page 3, Schedule A, Line 16b) Receipts Factor (Line 14 divided by Line 15) 14. 15. 16. 1322022205 Preparer’s Information: 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 Reset Entire Form RETURN TO PAGE 1 NEXT PAGE PRINT FORM FILL IN FORM USING ALL CAPS.DO NOT USE DASHES (-) OR SLASHES (/) IN ANY FIELD. ENTER DATES AS MMDDYYYY. USE WHOLE DOLLARS ONLY. 1322022305 rCT-132 B 08-22 (FI) Page 3 of 5 Revenue ID Schedule a Must be completed in its entirety. C InSIde PennSylVanIa receipts factor eVerywhere Line 17 should be 1.000000 or less. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. Receipts from Lease or Rental of real Property Receipts from Lease or Rental of Tangible Personal Property Interest, Fees and Penalties in Connection with Loans Secured by Real Property Interest, Fees and Penalties in Connection with Loans Not Secured by Real Property Net Gains from Sale of Loans Interest, Fees and Penalties Charged to Cardholders Net Gains from Sale of Credit Card Receivables Card Issuer’s Reimbursement Fees Receipts from Merchant’s Discounts ATM Fees Loan Servicing Fees Receipts from Services Receipts from Investment/Trading Assets and Activities Receipts from Sale or Disposition of Property All Other Receipts 16. Total Receipts (Add Lines 1 through 15) 1a. 1b. 2a. 2b. 3a. 3b. 4a. 5a. 4b. 5b. 6a. 6b. 7a. 8a. 7b. 8b. 9a. 9b. 10a. 11a. 10b. 11b. 12a. 12b. 13a. 13b. 14a. 15a. 14b. 15b. 16a. 16b. 17. 17. Receipts Factor (Line 16a divided by Line 16b, carry to six decimal places) 1322022305 1322022305 1322022305 Reset Entire Form RETURN TO PAGE 1 PREVIOUS PAGE NEXT PAGE PRINT FORM FILL IN FORM USING ALL CAPS.DO NOT USE DASHES (-) OR SLASHES (/) IN ANY FIELD. ENTER DATES AS MMDDYYYY. USE WHOLE DOLLARS ONLY. rCT-132 B 08-22 (FI) Page 4 of 5 Revenue ID rCT-132 B SChedUle a1 reCeIPTS faCTor for BanK ShareS TaX CORPORATION NAME: TAX PERIOD: 01/01/ Act 52 of 2013 changed the manner in which institutions calculate bank shares tax, requiring institutions to include receipts from trading and investment assets/activities in the numerator of the receipts factor by choosing one of two alternate methods referenced in the statute as Method 1 or Method 2. The taxpayer must complete this schedule to indicate which method is used to calculate the numerator of the receipts factor. This method must be used on all subsequent reports unless the Department of Revenue grants PrIor approval to change methods. If you are changing your method, provide a copy of the department’s approval with the report (see instructions). After the calculation is completed, the numerator must be carried to RCT-132 B, Page 3, Schedule A, Line 13a. Method 1 (see below.) Method 2 (see below.) Method 1 numerator Calculation Total receipts from trading assets and activities AND investment assets and activities. All other PA receipts All other receipts X X = Line13a PA numerator = Method 2 numerator Calculation Total receipts from trading assets and activities AND investment assets and activities. X Average value of PA assets that produce the receipts Average value of all such assets X = Line13a PA numerator = 1322022405 Reset Entire Form RETURN TO PAGE 1 PREVIOUS PAGE NEXT PAGE PRINT FORM FILL IN FORM USING ALL CAPS.DO NOT USE DASHES (-) OR SLASHES (/) IN ANY FIELD. ENTER DATES AS MMDDYYYY. USE WHOLE DOLLARS ONLY. rCT-132 B 08-22 (FI) Page Revenue ID 5 of 5 An Edge Act Corporation is a subsidiary of a bank or bank holding company or financial holding company, that is chartered by the Federal Reserve under Section 25A of the Federal Reserve Act, as amended in 1916 and 1919, to engage in foreign banking activities. The Federal Reserve Board authorizes U.S. and foreign banking and financial organizations to establish Edge Act Corporations. rCT-132 B SChedUle B CalCUlaTIon for edge aCT eXClUSIon Book Value of Total Equity Capital of Subsidiary from December 31st quarterly Report of Condition Name of Subsidiary (A) TOTAL $ SHOW AS WHOLE NUMBER X (a) TOTAL FROM ABOVE % = EXCLUSION PERCENTAGE (C) TOTAL BANK EQUITY OF PARENT (B) ALLOWABLE EXCLUSION = (B) ALLOWABLE EXCLUSION (d) ADJUSTED TOTAL BANK EQUITY The Adjusted Total Bank Equity should be carried to Page 2, Line 1. In order to take the exclusion, you must complete the above calculations and include copies of the fr 2886b, Consolidated report of Condition and Income for edge and agreement Corporations, for each subsidiary. 1322022505 Reset Entire Form RETURN TO PAGE 1 PREVIOUS PAGE NEXT PAGE PRINT FORM THIS PAGE DOES NOT PRINT Instructions for RCT-132 B Pennsylvania Bank and Trust Company - Shares Tax Report RCT-132B (SU) IN 08-22 WHAT’S NEW ● The RCT-132B can now be filed electronically at mypath.pa.gov. ● EDGE ACT CORPORATION EXCLUSION Institutions which file Reports of Condition on a consolidated basis with the subsidiaries formed pursuant to 12 U.S.C. § 611 (relating to the formation authorized; fiscal agents; depositaries in insular possessions), total bank equity capital shall exclude the book value of the total equity capital of the subsidiaries in accordance with the following schedule: For calendar year beginning Jan. 1, 2018, the exclusion for the book value of total equity capital of the subsidiaries shall be limited to 20% of the book value of total equity capital of the subsidiaries. For calendar year beginning Jan. 1, 2019, the exclusion is limited to 40%. For calendar year beginning Jan. 1, 2020, the exclusion is limited to 60%. For calendar year beginning Jan. 1, 2021, the exclusion is limited to 80%. For calendar year beginning Jan. 1, 2022, and each calendar year thereafter, the exclusion is limited to 100%. GENERAL INFORMATION REMINDER The shares tax rate is 0.95% effective beginning Jan. 1, 2017. For purposes of apportionment, receipts include all items of income reported on the income statement of the institution's Reports of Condition at the end of the preceding calendar year. For an institution that does not file quarterly Reports of Condition, receipts include all items of income included on an income statement determined in accordance with Generally Accepted Accounting Principles for the preceding calendar year. ● 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. ● RCT-132 B is used to report Pennsylvania bank and trust company shares tax. This form is ONLY to be used by national and state banks and trust companies to report shares tax for Jan. 1, 2015 and forward. www.revenue.pa.gov 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 www.revenue.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. ● An institution is engaged in doing business in this commonwealth and is subject to the tax imposed under Article VII if it generates gross receipts apportioned to this commonwealth under Section 701.4 of the tax reform code and satisfies any of the nexus requirements. See instructions for Page 3 of RCT-132 B for calculation of Receipts Factor. ● 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. ● Use ONLY the most current, non-year-specific tax form and instructions for filing the current tax year report. 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-132 B, Pennsylvania Bank and Trust Company Shares Tax Report. ● A complete copy of the Dec. 31 Quarterly Report of Condition as reported with the appropriate regulatory authorities to include Schedule RI-Income Statement, Schedule RC-Balance Sheet and all other schedules included within the Report of Condition. If an institution does not file the Reports of Condition, items of income and book values shall be determined by Generally Accepted Accounting Principles as of the end of the preceding calendar year. ● Detailed schedules for Goodwill and U.S. Obligations claimed on the tax report. ● 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 0.95 percent on taxable RCT-132 B 1 shares of bank and trust companies located in Pennsylvania and having capital stock. Loans tax has been repealed for the tax periods beginning after Dec. 31, 2013. Do not complete Line 1b on Page 1 for such tax periods. 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 For shares tax enter the year (YY) of the spot tax. REPORT DUE DATE This report is due on March 15 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. 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. 2 RCT-132 B ASSIGNED/PURCHASED RESTRICTED CREDITS Enter "Y" in the block on Page 1 if the taxpayer is using credits assigned or purchased from another entity. 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)”. 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. 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 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-132 B, the taxpayer must instruct the department to refund or transfer overpayment as indicated below. STEP 1 Complete the taxpayer information and any applicable questions at the top of Page 1. STEP 2 Indicate the type of bank on Page 1 - National Bank, State Bank, or Trust Company. This information is required. STEP 3 Enter the Revenue ID and other taxpayer information in the designated fields at the top of each page. STEP 4 Complete Page 5, Schedule B. STEP 5 Complete Page 4, Schedule A1. 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 6 Complete Page 3, Schedule A, Receipts Factor. 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. STEP 8 Complete Page 2, Calculation of End of Year Taxable Shares (Lines 1 through 9). 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-132 B 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]. STEP 7 Complete Page 2, Calculation of Shares Tax Apportionment (Lines 14 through 16). STEP 9 Complete Page 2, Calculation of Shares Tax (Lines 10 through 13). STEP 10 Complete Page 1, Tax Liability, Payment and Overpayment section. STEP 11 Complete the corporate officer information section, sign and date at the bottom of Page 1. STEP 12 Complete the preparer information section, sign and date at the bottom of Page 2, if applicable. STEP 13 Mail the complete report and all supporting schedules to the PA Department of Revenue. PENNSYLVANIA BANK AND TRUST COMPANIES SHARES TAX INSTRUCTIONS FOR APPORTIONMENT PAGE 3 SCHEDULE A ● General business tax questions, visit the department's Online Customer Service Center at www.revenue.pa.gov. RECEIPTS FACTOR MUST BE COMPLETED IN ITS ENTIRETY. ● 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. WHO MAY APPORTION? A financial institution may apportion its taxable amount of shares 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. LINE INSTRUCTIONS RCT-132 B should be completed in the following order: (Page instructions start with Page 3.) www.revenue.pa.gov RECEIPTS FACTOR The numerator is total receipts in Pennsylvania and the denominator is total receipts everywhere. For purposes of RCT-132 B 3 apportionment, receipts include all items of income reported on the income statement of the institution's Reports of Condition at the end of the preceding calendar year. For an institution that does not file quarterly Reports of Condition, receipts include all items of income included on an income statement determined in accordance with Generally Accepted Accounting Principles for the preceding calendar year. An institution is engaged in doing business in this commonwealth and is subject to the tax imposed under Article VII if it generates gross receipts apportioned to this commonwealth under Section 701.4 (see instructions below for calculation of Receipts Factor) and satisfies any of the nexus requirements. For more information on the determination of the location of receipts see Article VII, Section 701.4 of the Tax Reform Code, as amended, 72 P.S. § 7701.4. LINE 1 Receipts from Lease or Rental of Real Property. LINE 2 Receipts from Lease or Rental of Tangible Personal Property. LINE 13 Receipts from Investment/Trading, Assets and Activities. Complete Page 4. Schedule A1. LINE 14 Receipts from Sale or Disposition of Property. LINE 15 All Other Receipts. LINE 16 Total Receipts (Add Lines 1 through 15.) LINE 17 Receipts Factor (Line 16a divided by Line 16b; carry to 6 decimal places.) PAGE 2 PAGE 2 CALCULATION OF SHARES TAX APPORTIONMENT LINE 3 LINE 14 Interest Fees and Penalties in Connection with Loans Secured by Real Property. Total Receipts Inside PA (from Page 3, Schedule A, Line 16a.) LINE 4 LINE 15 Interest Fees and Penalties in Connection with Loans Not Secured by Real Property. Total Receipts Everywhere (from Page 3, Schedule A, Line 16b.) LINE 5 LINE 16 Net Gains from Sale of Loans. LINE 6 Interest Fees and Penalties Charged to Cardholders. LINE 7 Net Gains from Sale of Credit Card Receivables. LINE 8 Card Issuer’s Reimbursement Fees. LINE 9 Receipts from Merchant Discounts. LINE 10 ATM Fees. LINE 11 Loans Servicing Fees. LINE 12 Receipts from Services. 4 RCT-132 B Receipts Factor (Line 14 divided by Line 15; carry to six decimal places.) CALCULATION OF END OF YEAR TAXABLE SHARES A. The book value used for this schedule is the value reflected on the Dec. 31 Quarterly Report of Condition filed with the appropriate regulatory authority. If the total bank equity capital and total assets do not match the end of year balance sheet, provide a schedule reconciling the difference. B. For trust companies that do not file reports of condition, book value is the value at the end of the year under generally accepted accounting principles. C. A taxpayer taking a deduction for goodwill MUST provide a schedule detailing the goodwill listed on the balance sheet of the applicable call report. Include the name of the entity, date of combination and amount of goodwill. Goodwill is a deduction from total bank equity capital and total assets. D. Submit a schedule identifying U.S. obligations by names and amounts claimed for the Dec. 31 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. www.revenue.pa.gov END OF YEAR TAXABLE SHARES LINE 1 Total Bank Equity Capital from Balance Sheet (See A or B above.) NOTE: If a calculation was completed on Page 5 for an Edge Act Exclusion, Line 1 should be the Adjusted Total Bank Equity. LINE 2 Total Assets from Balance Sheet (See A or B above.) LINE 3 Goodwill (See C above.) LINE 4 Net Bank Equity (Line 1 minus Line 3.) LINE 5 Net Assets (Line 2 minus Line 3.) LINE 6 U.S. Obligations (See D above.) LINE 7 Divide Line 6 by Line 5; carry to 6 decimal places. LINE 13 Tax (Multiply Line 12 by 0.95 percent (0.0095). Carry the tax to RCT-132 B, Page 1, Line 1a. PAGE 4 SCHEDULE A1 RECEIPTS FACTOR Procedure for requesting approval to change methods: For the Jan. 1, 2018 shares tax, the taxpayer must submit a letter of request, including supporting documentation, for approval to change method. The letter of request must be sent to the following address: PA DEPARTMENT OF REVENUE PO BOX 280700 HARRISBURG PA 17128-0700 PAGE 5 SCHEDULE B CALCULATION FOR EDGE ACT EXCLUSION CAUTION: In order to take the exclusion, you must complete the calculations on Page 5, Schedule B, AND include copies of the FR 2886b, Consolidated Report of Condition and Income for Edge and Agreement Corporations, for each subsidiary. LINE 9 Exclusion Percentages For calendar year beginning Jan. 1, 2018, the exclusion for the book value of total equity capital of the subsidiaries shall be limited to 20% of the book value of total equity capital of the subsidiaries. Current End of Year Value of Shares (Subtract Line 8 from Line 4.) For calendar year beginning Jan. 1, 2019, the exclusion is limited to 40%. CALCULATION OF SHARES TAX For calendar year beginning Jan. 1, 2020, the exclusion is limited to 60%. LINE 8 Deduction for U.S. Obligations (Multiply Line 4 by Line 7.) LINE 10 Current End of Year Value of Shares (from Line 9 above.) For calendar year beginning Jan. 1, 2021, the exclusion is limited to 80%. LINE 11 For calendar year beginning Jan. 1, 2022, and each calendar year thereafter, the exclusion is limited to 100%. Shares Tax Apportionment (from Line 16); carry to six decimal places. CAUTION: Show percent as a whole number. Do not use a decimal. LINE 12 Total Amount of Shares Subject to Tax (Line 10 times Line 11.) www.revenue.pa.gov RCT-132 B 5
Extracted from PDF file 2023-pennsylvania-form-rct-132b.pdf, last modified July 2012

More about the Pennsylvania Form RCT-132B Corporate Income Tax TY 2023

We last updated the PA Bank and Trust Company Shares Tax Report in February 2024, so this is the latest version of Form RCT-132B, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form RCT-132B directly from TaxFormFinder. You can print other Pennsylvania tax forms here.


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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

Download all PA tax forms 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 RCT-132B from the Department of Revenue in February 2024.

Show Sources >

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 RCT-132B

We have a total of ten past-year versions of Form RCT-132B in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form RCT-132B

Pennsylvania Bank and Trust Company Shares Tax Report (RCT-132 B)

2022 Form RCT-132B

Pennsylvania Bank and Trust Company Shares Tax Report (RCT-132 B)

2021 Form RCT-132B

Pennsylvania Bank and Trust Company Shares Tax Report (RCT-132 B)

2020 Form RCT-132B

Pennsylvania Bank and Trust Company Shares Tax Report (RCT-132 B)

2019 Form RCT-132B

Pennsylvania Bank and Trust Company Shares Tax Report (RCT-132 B)

2018 Form RCT-132B

Pennsylvania Bank and Trust Company Shares Tax Report (RCT-132B) -- Print Only Version

2017 Form RCT-132B

Pennsylvania Bank and Trust Company Shares Tax Report (RCT-132B) -- Print Only Version

2016 Form RCT-132B

PA Bank and Trust Company Shares Tax Report (RCT-132B) -- Print Only Version

Forms/Publications 2015 Form RCT-132B

2015 PA Bank and Trust Company Shares Tax Report (RCT-132B)

Bank and Trust Company Shares and Loans Tax Report (RCT-132B) 2013 Form RCT-132B

Bank and Trust Company Shares and Loans Tax Report (RCT-132B)


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