§ 10003.13. Corporate tax treatment of certain automobile clubs
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal Affairs
72 P.S. § 10003.13
§ 10003.13. Corporate tax treatment of certain automobile clubs
(1) The conduct of the business of insurance by the automobile club, or subsidiary or affiliate thereof, in the capacity of an insurance company, association or exchange, insurance agency or brokerage, as these terms are defined in the act of May 17, 1921 (P.L. 789, No. 285),1 known as “The Insurance Department Act of 1921.”
(b) Notwithstanding any other provision of law, the “capital stock value” of an automobile club for purposes of the tax imposed by Article VI2 of this act shall be separately computed and limited to the value attributed to the following activities:
(c) For purposes of the taxes imposed by Articles IV3 and VI of this act, an automobile club shall be deemed not to be a membership organization subject to the Federal limitations on deductions from taxable income under section 277 of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 277).
“Automobile club.” A nonprofit corporation, trust or other entity whose membership is open to the general public, and that provides services and conducts activities on behalf of its members, including all of the following:
“Travel agency business.” The arrangement, in exchange for a fee, commission or salary, of vacation or travel packages or services, sightseeing tours, travel reservations or accommodations, tickets for domestic or foreign travel by air, rail, ship, bus or other mode of transportation or hotel or other accommodations.
Credits
1971, March 4, P.L. 6, No. 2, art. XXX, § 3003.13, added 1999, May 12, P.L. 26, No. 4, § 28, imd. effective.
72 P.S. § 10003.13, PA ST 72 P.S. § 10003.13
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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