§ 588.3. Declaration and payment of tax
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 24 P.S. Education
24 P.S. § 588.3
§ 588.3. Declaration and payment of tax
(a) Net Profits. (1) Every taxpayer who anticipates any net profits shall, on or before April 15 of a tax year, make and file with the treasurer, on a form prescribed by the treasurer, a declaration of his estimated net profits during the period beginning January 1 of the tax year and ending December 31 of the tax year, setting forth the estimated amount of net profits anticipated by him during the said period and subject to the tax, the amount of tax imposed by this act on such estimated net profits, and such other information as the treasurer may require.
The taxpayer making the declaration shall, at the time of filing thereof, pay to the treasurer the estimated amount of tax shown as due thereon: Provided, That the taxpayer shall have the right to pay the estimated tax in four quarterly installments, as follows: the first installment at the time of filing the declaration, and the other installments on or before June 15 and September 15 of the tax year and January 15 of the year next succeeding the tax year, respectively.
(2) Any taxpayer who first anticipates any net profits after April 15 of the tax year, shall make and file the declaration hereinabove required on or before June 15, September 15, or December 31 of the tax year, whichever of these dates next follows the date on which the taxpayer first anticipates such net profits. The taxpayer making the declaration shall, at the time of filing thereof, pay to the treasurer the estimated amount of tax shown as due thereon: Provided, That the taxpayer shall have the right to pay the estimated tax in equal installments on or before the quarterly installment payment dates which remain after the filing of the declaration.
(3) The treasurer is hereby authorized to provide by regulation for the making and filing of adjusted declarations of estimated net profits, and for the payment of the estimated tax in cases where a taxpayer who has filed the declaration hereinabove required anticipates additional net profits not previously declared or finds that he has over-estimated his anticipated net profits.
(4) On or before April 15 of the year next succeeding the tax year, every taxpayer who has received net profits shall make and file with the treasurer, on a form prescribed by him, a final return showing all of his net profits for the tax year, the total amount of tax due, the amount of estimated tax paid under the provisions of this section, and the balance due. Any taxpayer may, in lieu of paying the fourth quarterly installment of his estimated tax, elect to make and file with the treasurer, on or before January 15 of the year next succeeding the tax year, the final return as hereinabove required. At the time of filing the final return, the taxpayer shall pay the balance of the tax due or shall make demand for refund or credit in the case of overpayment.
(b) Salaries, wages, commissions and other compensation. Every taxpayer who is employed on a salary, wage, commission or other compensation basis and who received any earnings not subject to the provisions of section 4 of this act1 relating to collection at source, shall, on or before April 30, July 31 and October 31 of the tax year and January 31 of the year next succeeding the tax year, make and file with the treasurer, on a form prescribed by the treasurer, a return setting forth the aggregate amount of salaries, wages, commissions and other compensation earned by him during the three-month periods ending March 31, June 30, September 30 and December 31 of the tax year, respectively, and subject to the tax, together with such other information as the treasurer may require. Every taxpayer making such return shall, at the time of filing thereof, pay to the treasurer the amount of tax shown as due thereon.
(c) Notwithstanding any of the aforementioned requirements concerning the declaration and payment of taxes under this act, every person subject to the tax imposed by this act, whether said tax is collected at source by the person's employer or is otherwise paid by the taxpayer, shall file an annual return showing the amount of tax due upon the taxpayer's earned income from the previous year. This annual return shall be filed with the treasurer on or before April 15 of the year succeeding the year in which said income was earned.
Credits
1961, Aug. 24, P.L. 1135, No. 508, § 3. Amended 1983, May 20, P.L. 13, No. 6, § 1, imd. effective.
Footnotes
24 P.S. § 588.4.
24 P.S. § 588.3, PA ST 24 P.S. § 588.3
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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