Pa Rct 101 Form PDF Details

Filing taxes is a crucial obligation for every corporation operating within the United States, and Pennsylvania-based corporations are no exception. The PA RCT-101 form, specifically designed for corporate net income tax reporting, serves as a comprehensive document facilitating this process for the fiscal year 2021. Initiating with basic identification and status details of a corporation, such as tax year, amendments, economic nexus, and any changes impacting tax calculation, the form delves deeply into the financial intricacies. It captures essential financial activities structured around tax liability, including but not limited to estimated payments, restricted credits, and the total payment due or overpayment details that are critically analyzed in subsequent sections. Noteworthy is its accommodation for various corporate changes, like mergers, acquisitions, and status alterations, implying a significant impact on tax obligations. Further, it intricately details the computation of taxable income, factoring in bonuses, deductions, and apportionments to accurately define the tax due. With provisions for declaring corporate officer affirmations and preparer's information, it emphasizes accurate reporting and accountability. Moreover, the form encapsulates corporate real estate engagements within Pennsylvania, underlining the state's comprehensive approach to encompass all possible revenue streams. The PA RCT-101 form, through its elaborate structure, not only aids corporations in fulfilling their tax reporting responsibilities but also reflects Pennsylvania's efforts to ensure tax compliance and transparency in corporate financial activities.

QuestionAnswer
Form NamePa Rct 101 Form
Form Length4 pages
Fillable?No
Fillable fields0
Avg. time to fill out1 min
Other names Corporation Tax Forms - PA Department of Revenue

Form Preview Example

1010021105

1010021105

 

DEPARTMENT USE ONLY

RCT-101 07-21 (FI)

PAGE 1 OF 4

PA CORPORATE NET INCOME TAX REPORT 2021

IRS FILING TYPE A = 1120 B = 1120S

C = Other

STEP A:

 

Tax Year Beginning

Tax Year Ending

STEP B:

Amended Report

 

52-53 Week Filer

 

First Report

Economic Nexus

 

Address Change

 

KOZ/EIP/SDA Credit

 

 

 

 

Change Fed Group

 

Royalty/Related Interest

 

 

 

 

Add-Back (Act 52 of 2013)

STEP C:

File Period Change

S Corp Taxable Built-in Gains Section 381/382/Merger NOLs/Alternate Apportionment

Revenue ID

Federal EIN

Business Activity Code

Corporation Name

Address Line 1

Address Line 2

City

State

ZIP

Parent Corporation EIN

Province

Country Code

Foreign Postal Code

STEP D: PA CORPORATE NET INCOME TAX

USE WHOLE DOLLARS ONLY

A. TAX LIABILITY

B. ESTIMATED

C. RESTRICTED

FROM PAGE 2

PAYMENTS &

CREDITS

(CAN NOT BE LESS THAN ZERO)

CREDITS ON DEPOSIT

 

STEP E:

PAYMENT DUE/OVERPAYMENT

Calculation: A minus B minus C

See instructions.

CNI

STEP F: TRANSFER/REFUND METHOD (SEE INSTRUCTIONS*)

E-FILE OPT OUT (SEE INSTRUCTIONS*)

TRANSFER: Amount to be credited to the next tax year after offsetting all unpaid liabilities.

REFUND: Amount to be refunded after offsetting all unpaid liabilities.

STEP G: CORPORATE OFFICER (MUST SIGN AFFIRMATION BELOW)

NAME

PHONE

EMAIL

FORM

BARCODE

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.

CORPORATE OFFICER SIGNATURE

DATE

REVENUE ID TAX YEAR END

1010021205

NAME

RCT-101 07-21 (FI) PAGE 2 OF 4 PA CORPORATE NET INCOME TAX REPORT 2021

SECTION A: BONUS DEPRECIATION

(Include REV-1834, Schedule C-8 and C-9, if claiming bonus depreciation.)

1.Current year federal depreciation of 168k prop.

2.Current year adjustment for disposition of 168k prop.

3.Other adjustments.

SECTION B: PA CORPORATE NET INCOME TAX

USE WHOLE DOLLARS ONLY

1

2

3

1.

Income or loss from federal return on a separate-company basis.

1

2.

DEDUCTIONS:

 

 

2A. Corporate dividends received (from REV-798, Schedule C-2, Line 7).

2A

 

2B. Interest on U.S. securities (GROSS INTEREST minus EXPENSES).

2B

 

2C. Current yr. addtl. PA deprec. plus adjust. for sale (REV-1834, Sched. C-8, Line 8).

2C

 

2D. Other (from REV-860, Schedule OD) See instructions.

2D

 

TOTAL DEDUCTIONS - Add Lines 2A through 2D and enter the result on Line 2.

2

3.ADDITIONS:

 

3A. Taxes imposed on or measured by net income (from REV-860, Schedule C-5, Line 6).

3A

 

3B. Employment incentive payment credit adjustment (Include Schedule W).

3B

 

3C. Current year bonus depreciation (REV-1834, Sched. C-8, Line 3).

3C

 

3D. Intangible expense or related interest expense (REV-802, Sched. C-6; must include REV-802).

3D

 

3E. Other (from REV-860, Schedule OA) See instructions.

3E

 

TOTAL ADDITIONS - Add Lines 3A through 3E and enter the result on Line 3.

3

4.

Income or loss with Pennsylvania adjustments (Line 1 minus Line 2 plus Line 3).

4

5.

Total nonbusiness income or loss (from REV-934, Column C, Total; must include REV-934).

5

6.

Income or loss to be apportioned (Line 4 minus Line 5).

6

7.

Apportionment (from Schedule C-1, 1C, or 2C if using Special Apportionment).

7

8.

Income or loss apportioned to PA (Line 6 times Line 7).

8

9.

Nonbusiness income or loss allocated to PA (from REV-934, Column A, Total; must include REV-934).

9

10.

PA taxable income or loss after apportionment (Line 8 plus Line 9).

10

11.

Total net operating loss deduction (from RCT-103, Part A, Line 4).

11

12.

PA taxable income or loss (Line 10 minus Line 11).

12

13.

PA corporate net income tax (Line 12 times 0.0999). If Line 12 is less than zero, enter "0".

13

14.

Less: Credit for tax paid by affiliate(s) for intangible expense or related interest expense

14

 

(from REV-803, Sched. C-7; must include REV-803).

 

15.

Tax Due (Line 13 minus Line 14.)

15

SCHEDULE C-1: Apportionment Schedule For CORPORATE NET INCOME TAX (Include RCT-106.) *

SALES FACTOR

Sales - PA 1A Sales - Total 1B

1C

SPECIAL APPORTIONMENT

Numerator 2A Denominator 2B

Apportionment 2C Proportion

*Refer to REV-1200, PA Corporate Net Income Tax Instructions, found at www.revenue.pa.gov.

1010021205

1010021205

REVENUE ID TAX YEAR END

1010021305

NAME

RCT-101 07-21 (FI) PAGE 3 OF 4 PA CORPORATE NET INCOME TAX REPORT 2021

SECTION C: CORPORATE STATUS CHANGES

FINAL REPORT

PA CORPORATIONS:

Did you ever transact business anywhere?

Did you hold assets anywhere?

FOREIGN CORPORATIONS:

Did you ever transact business in PA on your own or through an unincorporated entity? Did you hold assets in PA on your own or through an unincorporated entity?

If yes, enter date all business activity ceased If yes, enter date of final disposition of assets*

If yes, enter date PA business activity ceased If yes, enter date of final disposition of

PA assets*

*Schedule of Disposition of Assets, REV-861, must be completed and filed with this report.

Has the corporation sold or transferred in bulk, 51 percent or more of any class of assets? (See instructions.) If yes, enter the following information. (Include a separate schedule if additional space is needed.)

Purchaser Name

Address Line 1

Address Line 2

City

State

ZIP

Province

Country Code

Foreign Postal Code

SECTION D: GENERAL INFORMATION QUESTIONNAIRE

Describe corporate activity in PA

Describe corporate activity outside PA

Other states in which taxpayer has activity

State of Incorporation

Incorporation Date

1.

Does any corporation, individual or other business entity hold all or a majority of the stock of this corporation?

1

2.

Does this corporation own all or a majority of stock in other corporations? If yes, include REV-798, Schedule X.

2

3.

Is this taxpayer a partnership or other unincorporated entity that elects to file federal taxes as a corporation?

3

4.

Has the federal government changed taxable income as originally reported for any prior period for which reports of change

4

 

have not been filed in PA?

 

 

 

 

 

If yes: First Period End Date:

 

Last Period End Date:

 

 

 

 

 

 

 

Accounting Method - Federal Tax Return

 

Accounting Method - Financial Statements

 

A = Accrual C = Cash O = Other

A = Accrual C = Cash O = Other

Other

Other

1010021305

1010021305

REVENUE ID TAX YEAR END

1010021405

NAME

RCT-101 07-21 (FI) PAGE 4 OF 4 PA CORPORATE NET INCOME TAX REPORT 2021

SCHEDULE OF REAL PROPERTY IN PA (Include a separate schedule if additional space is needed.)

DID YOU OWN OR RENT PROPERTY IN PA TITLED TO THE CORPORATION OR ANY SINGLE MEMBER LLC DURING THIS FILING PERIOD?

 

IF YES, THE BELOW SECTION MUST BE COMPLETED.

 

 

 

O = Own

 

 

 

 

R = Rent

STREET ADDRESS

CITY

COUNTY

KOZ/KOEZ

CORPORATE OFFICERS

(SEE INSTRUCTIONS.)

SSN

LAST NAME

FIRST NAME

MI

MUST PROVIDE REQUESTED INFORMATION

 

 

 

 

FOR ALL FILLED OFFICER POSITIONS.

 

 

 

 

President/Managing Partner

Vice President

Secretary

Treasurer/Tax Manager

PREPARER’S INFORMATION

Firm Federal EIN

Firm Name

Address Line 1

Address Line 2

City

State

ZIP

Province

Country Code

Foreign Postal Code

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.

TAX PREPARER’S SIGNATURE

INDIVIDUAL PREPARER PHONE

EMAIL PTIN/SSN

DATE

1010021405

1010021405

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1. Firstly, once filling out the Pa Rct 101 Form, beging with the section with the following blank fields:

Part # 1 for filling out Pa Rct 101 Form

2. Given that the previous section is completed, you should insert the essential specifics in CNI, sTep F TransferRefund Method see, eFile opt out see instructions, Transfer Amount to be credited to, Refund Amount to be refunded after, sTep g Corporate officer Must sign, NaMe phoNe eMaIl, FoRM BaRCoDe, and I affirm under penalties so you're able to proceed further.

Pa Rct 101 Form completion process shown (part 2)

People often get some things incorrect while filling out eFile opt out see instructions in this section. Ensure you go over everything you type in right here.

3. Within this part, look at ReVeNue ID Tax yeaR eND, NaMe, RCT FI page oF pa CoRpoRaTe NeT, use whole DollaRs oNly, seCTIoN a BoNus DepReCIaTIoN, Current year federal depreciation, Current year adjustment for, Other adjustments, seCTIoN B pa CoRpoRaTe NeT INCoMe, DeDuCTIoNs, a Corporate dividends received, B Interest on US securities GROSS, C Current yr addtl PA deprec plus, D Other from REV Schedule OD See, and ToTal DeDuCTIoNs Add Lines A. These need to be filled in with highest precision.

Part no. 3 for filling in Pa Rct 101 Form

4. The following paragraph needs your details in the subsequent areas: a Taxes imposed on or measured by, B Employment incentive payment, C Current year bonus depreciation, D Intangible expense or related, e Other from REV Schedule OA See, ToTal aDDITIoNs Add Lines A, Income or loss with Pennsylvania, Total nonbusiness income or loss, Income or loss to be apportioned, Apportionment from Schedule C C, Income or loss apportioned to PA, Nonbusiness income or loss, PA taxable income or loss after, Total net operating loss, and PA taxable income or loss Line. Ensure that you fill in all of the requested information to go forward.

Learn how to fill in Pa Rct 101 Form part 4

5. While you reach the end of this document, you will find just a few extra things to do. Particularly, Sales PA, Sales Total, Numerator, Denominator, Apportionment, Proportion, and Refer to REV PA Corporate Net must all be filled out.

Simple tips to prepare Pa Rct 101 Form part 5

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